VANCOUVER, Jan. 13 /PRNewswire/ - Angiotech Pharmaceuticals,
Inc. (OTCQB: ANPI, TSX: ANP) ("Angiotech" or the "Company") today
announced that trading of shares of the Company's common stock will
be transferred from the Nasdaq Stock Market ("Nasdaq") to the
OTCQB™ Marketplace effective January 13,
2011. As previously disclosed on January 5, 2011, Angiotech received a notice from
Nasdaq stating Angiotech has not regained compliance with Nasdaq's
Listing Rule 5450(a)(1) within the 180 calendar day grace period
ending January 3, 2011. Nasdaq's
notice indicated Angiotech's common shares will be delisted on
January 13, 2011.
The Company has been advised by Pink OTC Markets, Inc., which
operates an electronic quotation service for securities traded
over-the-counter ("OTC"), that its securities are immediately
eligible for quotation on the OTCQB. The OTCQB is a market tier for
OTC-traded companies that are registered and reporting with the
Securities and Exchange Commission. The Company has also been
advised that its shares will trade under the symbol ANPI. Investors
will be able to view real-time stock quotes for ANPI at
www.otcmarkets.com.
Angiotech's common shares will still be tradable on the Toronto
Stock Exchange under the trading symbol "ANP".
Forward Looking Statements
Statements contained in this press release that are not based on
historical fact, including without limitation statements containing
the words "believes," "may," "plans," "will," "estimates,"
"continues," "anticipates," "intends," "expects" and similar
expressions, constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995 and
constitute "forward-looking information" within the meaning of
applicable Canadian securities laws. All such statements are made
pursuant to the "safe harbor" provisions of applicable securities
legislation. Forwardlooking statements may involve, but are not
limited to, comments with respect to our objectives and priorities
for the remainder of 2010 and beyond, our strategies or future
actions, our targets, expectations for our financial condition and
the results of, or outlook for, our operations, research and
development and product and drug development. Such forwardlooking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, events or developments
to be materially different from any future results, events or
developments expressed or implied by such forward-looking
statements. Many such known risks, uncertainties and other factors
are taken into account as part of our assumptions underlying these
forward-looking statements and include, among others, the
following: general economic and business conditions in the United States, Canada and the other regions in which we
operate; market demand; technological changes that could impact our
existing products or our ability to develop and commercialize
future products; competition; existing governmental legislation and
regulations and changes in, or the failure to comply with,
governmental legislation and regulations; availability of financial
reimbursement coverage from governmental and third-party payers for
products and related treatments; adverse results or unexpected
delays in pre-clinical and clinical product development processes;
adverse findings related to the safety and/or efficacy of our
products or products sold by our partners; decisions, and the
timing of decisions, made by health regulatory agencies regarding
approval of our technology and products; the requirement for
substantial funding to conduct research and development, to expand
manufacturing and commercialization activities; and any other
factors that may affect our performance. In addition, our business
is subject to certain operating risks that may cause any results
expressed or implied by the forward-looking statements in this
press release to differ materially from our actual results. These
operating risks include: our ability to attract and retain
qualified personnel; our ability to successfully complete
pre-clinical and clinical development of our products; changes in
our business strategy or development plans; our failure to obtain
patent protection for discoveries; loss of patent protection
resulting from thirdparty challenges to our patents;
commercialization limitations imposed by patents owned or
controlled by third parties; our ability to obtain rights to
technology from licensors; liability for patent claims and other
claims asserted against us; our ability to obtain and enforce
timely patent and other intellectual property protection for our
technology and products; the ability to enter into, and to
maintain, corporate alliances relating to the development and
commercialization of our technology and products; market acceptance
of our technology and products; our ability to successfully
manufacture, market and sell our products; the availability of
capital to finance our activities; our ability to restructure and
to service our debt obligations; and any other factors referenced
in our other filings with the applicable Canadian securities
regulatory authorities or the Securities and Exchange Commission
("SEC"). For a more thorough discussion of the risks associated
with our business, see the "Risk Factors" section in our annual
report for the year ended December 31,
2009 filed with the SEC on Form 10-K, as amended, and our
quarterly report for the 3rd quarter of 2010 filed with the SEC on
Form 10-Q.
Given these uncertainties, assumptions and risk factors,
investors are cautioned not to place undue reliance on such
forward-looking statements. Except as required by law, we disclaim
any obligation to update any such factors or to publicly announce
the result of any revisions to any of the forward-looking
statements contained in this press release to reflect future
results, events or developments.
©2011 Angiotech Pharmaceuticals, Inc. All Rights Reserved.
About Angiotech Pharmaceuticals
Angiotech Pharmaceuticals, Inc. is a global specialty
pharmaceutical and medical device company. Angiotech discovers,
develops and markets innovative treatment solutions for diseases or
complications associated with medical device implants, surgical
interventions and acute injury. To find out more about Angiotech
(OTCQB: ANPI, TSX: ANP), please visit our website at
www.angiotech.com.
About Pink OTC Markets Inc.
Pink OTC Markets Inc. is a financial information and technology
services company that operates an inter-dealer electronic quotation
and trading system in the Over-the-Counter, or OTC, securities
market. It is not registered with the Securities and Exchange
Commission as a stock exchange or a broker-dealer firm. Investors
should contact a broker-dealer firm to trade in a security quoted
on the OTCQB or the other OTC tiers operated by Pink OTC Markets
Inc. More information is available at www.otcmarkets.com.
SOURCE Angiotech Pharmaceuticals, Inc.
Copyright . 13 PR Newswire