Antares submits application to Amex to regain listing compliance

By Angela McDaniels

Seattle, Jan. 10 - Antares Pharma Inc. said it has submitted an Additional Listing Application with the American Stock Exchange in order to regain compliance with Amex's listing standards.

On Nov. 23, the company issued 400,000 shares of its common stock in connection with a stock purchase agreement related to a product licensing, supply and development agreement. Antares said it inadvertently failed to submit an Additional Listing Application and receive Amex approval prior to the issuance.

Accordingly, on Jan. 5 the company received notice from Amex that it was not in compliance with Section 301 of the Amex Company Guide.

"Antares has only been listed with The American Stock Exchange since September 23, 2004, and has not had a previous transaction subject to Section 301; accordingly, Antares has reviewed and updated its procedures in relation to Amex filings as appropriate," chief financial officer and vice president of finance Lawrence Christian said in a company news release.

Antares is a specialized pharmaceutical development company based in Exton, Pa., that develops drug delivery systems.

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