commercialization of cethromycin;
* Support regulatory process associated with the cethromycin NDA
submission and plan for ex-U.S. regulatory filings;
* Execute studies of cethromycin as a broad spectrum medical
countermeasure under the DTRA contract;
* Continue preparing for commercial launch of cethromycin through
pre-launch activities including manufacturing, strategic marketing,
medical education, pricing and reimbursement strategies.
Financial Outlook for the Fourth Quarter of 2008
In October 2008, using cash on hand and by accessing the remaining $6.0 million under its expanded credit facility, Advanced Life Sciences paid its $10.0 million milestone obligation to Abbott Laboratories which was triggered upon the submission of the cethromycin NDA in September. The Company has significantly reduced variable expenses associated with the completed NDA submission and expects its fourth quarter 2008 cash requirements to range from $12.8 million to $13.4 million inclusive of the $10.0 million cethromycin NDA submission milestone.
Nasdaq Staff Letter
On October 1, 2008, we received notice from the Nasdaq Listing Qualifications Department stating that the market value of our listed securities was below $35.0 million for 10 consecutive days, and that we were in violation of the requirement for continued listing on the Nasdaq Capital Market under Marketplace Rule 4310(c)(3)(B) (the "Rule"). Nasdaq also informed us that we are not in compliance with either of Marketplace Rules 4310(c)(3)(A) or 4310(c)(3)(C), which together require either minimum stockholders' equity of $2.5 million or net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years for listing eligibility.
We were provided 30 calendar days, or until October 31, 2008, to
establish compliance with these continued listing req
|SOURCE Advanced Life Sciences Holdings, Inc.|
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