Attached files
file | filename |
---|---|
8-K - Nuo Therapeutics, Inc. | v208675_8k.htm |
Cytomedix Common
Stock to Trade on the OTC Bulletin Board
GAITHERSBURG, Md. (January 21,
2011) – Cytomedix, Inc. (NYSE Amex: GTF) (“the Company” or “Cytomedix”)
announced today that beginning with the opening of trading on or about January
25, 2011, the Company’s common stock is expected to be quoted on the OTC
Bulletin Board, and will cease trading on the NYSE Amex. The Company
also expects to be issued a new trading symbol for quotation on the OTC Bulletin
Board and will announce the new ticker symbol once it has been
assigned.
As
previously announced, on November 19, 2010, Cytomedix received notice from the
staff of the NYSE Amex that the Company had failed to regain compliance with the
stockholders’ equity requirement for continued listing and, accordingly, the
Company’s securities were subject to delisting proceedings. The Company appealed
the determination to a Listing Qualifications Panel. However, the Company
withdrew its appeal on January 20, 2011.
“While we
were not able to meet certain stockholder’s equity compliance requirements
needed to maintain our NYSE Amex listing, our core business remains strong and
we continue to see positive market reaction to both of our platelet rich plasma
products,” commented Martin P. Rosendale, President and Chief Executive Officer
of Cytomedix. “We are nearing the completion of a very robust dossier
for submission to the Centers for Medicare & Medicaid Services to reconsider
reimbursement of our AutoloGel™ System in wound healing, and are confident that
our strong clinical data will provide a compelling case for a positive
determination.”
While its
common stock is expected to be quoted on the OTC Bulletin Board, the Company
plans to continue to file all periodic reports with the SEC pursuant to the
requirements of the Securities Exchange Act of 1934, as amended.
About
Cytomedix, Inc.
Cytomedix
develops, sells and licenses regenerative biological therapies primarily for
wound care, inflammation and angiogenesis. The Company markets the
AutoloGel™ System, a device for the production of platelet rich plasma (PRP) gel
derived from the patient’s own blood for use on a variety of exuding wounds; the
Angel® Whole Blood Separation System, a blood processing device and disposable
products used for the separation of whole blood into red cells, platelet poor
plasma (PPP) and PRP in surgical settings; and the activAT® Autologous Thrombin
Processing Kit, which produces autologous thrombin serum from
PPP. The activAT® kit is sold exclusively in Europe and Canada, where
it provides a completely autologous, safe alternative to bovine-derived
products. The Company is pursuing a multi-faceted strategy to
penetrate the chronic wound market with its products, as well as opportunities
for the application of AutoloGel™ and PRP technology into other markets such as
hair transplantation and orthopedics while actively seeking complementary
products for the wound care market. Cytomedix also seeks to monetize other
product candidates in its pipeline through strategic partnerships, out-licensing
or sale. Most notably is its anti-inflammatory peptide (designated
CT-112) that has shown promise in preclinical testing. Additional
information regarding Cytomedix is available at www.cytomedix.com.
Safe
Harbor Statement
Statements
contained in this communication not relating to historical facts are
forward-looking statements that are intended to fall within the safe harbor rule
for such statements under the Private Securities Litigation Reform Act of 1995.
Such statements contained in this release are based on management’s exercise of
business judgment as well as assumptions made by and information currently
available to management. When used in this document, the words “may”, “will”,
“anticipate”, “believe”, “estimate”, “expect”, “intend”, and words of similar
import, are intended to identify any forward-looking statements. The information
contained in the forward-looking statements is inherently uncertain, and
Cytomedix’s actual results may differ materially due to a number of factors,
many of which are beyond Cytomedix’s ability to predict or control, including
among others, an
assurance that its over the counter trading application will be approved or that
its securities will trade on the OTC BB without interruption, viability and
effectiveness of our sales approach and overall marketing strategies, the
outcome of development or regulatory review of CT- 112, commercial success or
acceptance by the medical community, competitive responses, our ability to raise
additional capital and to continue as a going concern, our ability to execute on
our strategy to market the AutoloGel™ System as contemplated, our ability to
successfully integrate the Angel® and activAT® product lines into our existing
business, to assume and satisfy certain liabilities related to the Angel® and
activAT® product lines, or our ability to service the deferred payments related
to the acquisition of the Angel® and activAT® product lines. These
forward-looking statements are subject to known and unknown risks and
uncertainties that could cause actual events to differ from the forward-looking
statements. More information about some of these risks and uncertainties may be
found in the reports filed with the Securities and Exchange Commission by
Cytomedix, Inc. Cytomedix operates in a highly competitive and rapidly changing
business and regulatory environment, thus new or unforeseen risks may arise.
Accordingly, investors should not place any reliance on forward-looking
statements as a prediction of actual results. Except as is expressly required by
the federal securities laws, Cytomedix undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new information,
changed circumstances or future events or for any other reason.
Contacts:
Cytomedix,
Inc.
|
Lippert/Heilshorn & Associates |
David
Jorden, Executive Board Member
Martin
Rosendale, CEO
Andrew
Maslan, CFO
(240)
499-2680
|
Anne
Marie Fields
(afields@lhai.com)
(212)
838-3777
|
Bruce
Voss
(bvoss@lhai.com)
(310)
691-7100
|
# #
#