Bioject Medical Technologies Inc. (NASDAQ:BJCT), a leading developer of needle-free injection therapy systems, today announced that it has received notification from The NASDAQ Stock Market LLC that the NASDAQ Listing Qualifications Panel has determined to delist the Company’s securities from The NASDAQ Capital Market. The Panel’s decision was based on the fact that the Company has not regained compliance with NASDAQ’s $1.00 per share bid price requirement.
Accordingly, trading in the Company’s common stock will be transferred to the Over-the-Counter Bulletin Board (the “OTCBB”), an electronic quotation service maintained by the Financial Industry Regulatory Authority, effective with the open of the market on July 23, 2008. The symbol will remain BJCT.
“While today’s financial market conditions are challenging, the Company remains highly committed to working on our core fundamentals and pursuing our new business strategy,” said Ralph Makar, President and CEO of Bioject. “We look forward to sharing more information during our next earnings call.”
About Bioject
Bioject Medical Technologies Inc., based in Portland, Oregon, is an innovative developer and manufacturer of needle-free injection therapy systems (NFITS). NFITS provide an empowering technology and works by forcing medication at high speed through a tiny orifice held against the skin. This creates a fine stream of high-pressure fluid penetrating the skin and depositing medication in the tissue beneath. The Company is focused on developing mutually beneficial agreements with leading pharmaceutical, biotechnology, and veterinary companies. For more information about Bioject, visit www.bioject.com.
About the OTCBB
The OTCBB is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in OTC equity securities. An OTC equity security generally is any equity that is not listed or traded on a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, ADRs, and Direct Participation Programs. More information is available at http://www.otcbb.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, regarding quotation on the OTC Bulletin Board. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results expressed or implied by such forward-looking statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. The Company assumes no obligation to update forward-looking statements if conditions or management’s estimates or opinions should change.
For more information about Bioject, visit www.bioject.com.
Contacts:
Ralph Makar, President and CEO
503-692-8001,
ext. 4137
or
Chris Farrell, Vice President of Finance
503-692-8001,
ext. 4132
