NEWTON, Mass.--(BUSINESS WIRE)--Pro-Pharmaceuticals, Inc. (NYSE Alternext US: PRW) received a letter dated November 7, 2008 from the NYSE Alternext US (the “Exchange”), formerly known as the American Stock Exchange, stating that the Exchange intends to begin delisting proceedings of the Company’s common stock because the Company was not able to regain compliance with Section 1003(a)(i) of the Company Guide with stockholders’ equity of less than $2,000,000 and losses from continuing operations and net losses in two out of its three most recent fiscal years, and Section 1003(a)(ii) of the Company Guide with stockholders’ equity of less than $4,000,000 and losses from continuing operations and net losses in three of its four most recent fiscal years. The Company has appealed the Exchange’s decision and requested a hearing before the Exchange’s Corporate Compliance Panel, but cannot assure that the Exchange’s decision will be reversed. If the Company’s common stock is delisted, the shares may trade on another market, including the Over-the-Counter Bulletin Board.
