Ardea Biosciences to List on the NASDAQ Capital Market
Posted on: Tuesday, 9 October 2007, 09:00 CDT
CARLSBAD, Calif., Oct. 9 /PRNewswire-FirstCall/ -- Ardea Biosciences, Inc. , a company focused on the discovery and development of small-molecule therapeutics for the treatment of viral diseases, cancer and inflammatory diseases, today announced that the NASDAQ Listing Qualifications Department of The NASDAQ Stock Market LLC has approved the Company's application for listing of its common stock on The NASDAQ Capital Market. Ardea anticipates that its common stock will begin trading on The NASDAQ Capital Market at the market opening on Wednesday, October 10, 2007 under the symbol "RDEA."
About Ardea Biosciences, Inc.
Ardea Biosciences is focused on the discovery and development of small-molecule therapeutics for the treatment of viral diseases, cancer and inflammatory diseases. The Company plans to initiate clinical studies on four compounds this year. These include RDEA806, the Company's lead non-nucleoside reverse transcriptase inhibitor (NNRTI) for the treatment of HIV, which recently completed Phase 1 clinical trials, RDEA119, a mitogen-activated ERK kinase (MEK) inhibitor for the treatment of cancer and inflammatory diseases, which has been cleared by the FDA to enter Phase 1 clinical trials, and a follow-on NNRTI and a follow-on MEK inhibitor, both of which are scheduled to enter first-in-human studies in the fourth quarter of 2007.
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding: Ardea's goals, including its goal of initiating a Phase 1 study of RDEA119 and initiating clinical studies on three additional compounds this year, the expected properties and benefits of its compounds and the results of clinical and other studies. Risks that contribute to the uncertain nature of the forward-looking statements include: risks related to the outcomes of preclinical and clinical trials, risks related to regulatory approvals, delays in commencement of preclinical and clinical tests, and costs associated with internal development and in-licensing activities. These and other risks and uncertainties are described more fully in Ardea's most recently filed SEC documents, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings "Risk Factors." All forward-looking statements contained in this press release speak only as of the date on which they were made. Ardea undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Ardea Biosciences, Inc.
CONTACT: Chris Krueger, Chief Business Officer of Ardea Biosciences,Inc., +1-760-602-9406
Web site: http://www.ardeabiosciences.com/
Source: PRNewswire-FirstCall
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