TUSTIN, CA--(Marketwire - January 26, 2010) - US-based pharmaceutical company Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) announced today it has submitted a business plan to the New York Stock Exchange ("NYSE") Amex demonstrating its ability to achieve compliance with continued listing standards.
The business plan includes, but is not limited to, securing additional capital through equity financing and an equity line of credit; securing shareholder approval for various debt for equity transactions to eliminate the majority of RPC's near- and long-term debt; monetizing RPC's ownership in its China-based subsidiary Jade Pharmaceuticals Inc.; advancing the international commercialization of the Company's Onko-Sure™ cancer test kits, Onko-Care cancer test services and Elleuxe skin-care product line; and instituting a new investor relations program to promote investor buying in RPC.
If the plan is accepted, under applicable rules and regulations of the NYSE Amex, RPC must achieve compliance with the market listing standards in six (6) months by June 23, 2010. If the Company is not compliant by these dates, its common stock will be subject to suspension and delisting by the NYSE Amex.
For additional information on Radient Pharmaceuticals, ADI and its portfolio of products visit the Company's corporate website at www.Radient-Pharma.com. For Investor Relations information contact Kristine Szarkowitz at kszarkowitz@Radient-Pharma.com or 1.206.310.5323.
About Radient Pharmaceuticals:
Headquartered in Tustin, California, Radient Pharmaceuticals Corporation is an integrated pharmaceutical company devoted to the research, development, manufacturing, and marketing of diagnostic, and premium skin care products.
Forward-Looking Statements:
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this document include certain predictions
and projections that may be considered forward-looking statements under
securities law. These statements involve a number of important risks and
uncertainties that could cause actual results to differ materially
including, but not limited to, the performance of joint venture partners,
as well as other economic, competitive and technological factors involving
the Company's operations, markets, services, products, and prices. With
respect to Radient Pharmaceuticals Corporation, except for the historical
information contained herein, the matters discussed in this document are
forward-looking statements involving risks and uncertainties that could
cause actual results to differ materially from those in such
forward-looking statements.
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