Radient Pharmaceuticals Submits Business Plan for Continued NYSE Amex Listing
US-based pharmaceutical company Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) announced today it has submitted a business plan to the New York Stock Exchange ("NYSE") Amex demonstrating its ability to achieve compliance with continued listing standards.
The business plan includes, but is not limited to, securing additional capital through equity financing and an equity line of credit; securing shareholder approval for various debt for equity transactions to eliminate the majority of RPC's near- and long-term debt; monetizing RPC's ownership in its China-based subsidiary Jade Pharmaceuticals Inc.; advancing the international commercialization of the Company's Onko-Sure(TM) cancer test kits, Onko-Care cancer test services and Elleuxe skin-care product line; and instituting a new investor relations program to promote investor buying in RPC.
If the plan is accepted, under applicable rules and regulations of the NYSE Amex, RPC must achieve compliance with the market listing standards in six (6) months by June 23, 2010. If the Company is not compliant by these dates, its common stock will be subject to suspension and delisting by the NYSE Amex.
For additional information on Radient Pharmaceuticals, ADI and its portfolio of products visit the Company's corporate website at www.Radient-Pharma.com
. For Investor Relations information contact Kristine Szarkowitz at kszarkowitz@Radient-Pharma.com