Long Term Investment, Biotech & High Yield Dividend Stocks

[califax]

NexMed Regains Compliance with NASDAQ Listing Requirements

Date : 07/07/2010 @ 8:30AM
Source : Business Wire
Stock : NexMed, Inc. (NEXMD)

http://ih.advfn.com/p.php?pid=nmona&article=43512327&symbol=N^NEXMD

NexMed, Inc. (Nasdaq: NEXMD), a specialty CRO with a pipeline of product candidates based on the NexACT® technology, today announced that the Company received a letter, dated July 6, 2010 from The NASDAQ Hearings Panel (the “Panel”), stating that it has met the requirements of the Panel’s decision dated December 17, 2009, as modified February 1, 2010, and the applicable requirements for listing on The NASDAQ Stock Market. Accordingly, the Panel has determined to continue the listing of the Company’s securities on The NASDAQ Stock Market.

Dr. Bassam Damaj, President and Chief Executive Officer of NexMed, noted, “Overcoming the series of deficiencies we have had since October 2008 has been a major objective for management and a noteworthy accomplishment for the Company. Meeting our NASDAQ milestone is the first of many in our growth strategy for 2010 and beyond.”

About NexMed

NexMed is the largest specialty CRO based in San Diego, CA and is one of the industry's most experienced CROs for in vitro and in vivo pharmacology services and research models. The Company’s goal is to generate revenues from the growth of its Discovery Pre-clinical CRO business, while aggressively seeking to monetize its proprietary NexACT drug delivery technology through out-licensing agreements with pharmaceutical and biotechnology companies, worldwide. At the same time, NexMed is actively pursuing partnering opportunities for its NexACT-based treatments for onychomycosis, psoriasis, sexual dysfunction and cancer. For further information on NexMed and its subsidiaries, visit the following websites: http://www.nexmed.com or http://www.bio-quant.com.

##################################################################

http://ih.advfn.com/p.php?pid=squote&symbol=nexmd

Outstanding: 8,816,007
Float: 7,661,490