Biotech Values

[DewDiligence]

INGN to cease trading on Nasdaq:

http://finance.yahoo.com/news/Introgen-Common-Stock-to-be-bw-13761528.html

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The December 5, 2008 letter from the [Nasdaq] Panel indicated that in light of the company’s filing for protection under Chapter 11 of the U.S. Bankruptcy Code, and Introgen’s expectation that it will not meet the continued listing standards by March 3, 2009, the Panel has no basis for the continuing listing of Introgen’s shares.

Introgen does not expect to appeal the Panel’s determination and therefore expects that its shares of common stock will be delisted effective at the open of trading on Tuesday, December 9, 2008. As a result, the company expects that there will be a very limited market, or no market at all, in which its securities are traded and as a result, its stockholders will likely find it difficult to sell their shares of Introgen’s common stock.
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