VIRAGEN CONTINUES TO MEET AMERICAN STOCK EXCHANGE LISTING CRITERIA Company To Amend SEC Filing Which States Otherwise
PLANTATION, FLORIDA - May 30, 2003 - Viragen, Inc. (AMEX: "VRA") today corrected erroneous information contained in a preliminary prospectus included in a Form S3 that the Company filed with the Securities and Exchange Commission (SEC) this morning.
The filing incorrectly states that, "We (Viragen) do not currently meet minimum bid price requirements of the American Stock Exchange (AMEX), and if we are delisted from the American Stock Exchange, the trading market for our common stock could be eliminated." Viragen currently meets AMEX maintenance criteria and is considered in good standing. The Company has no reason to believe that it is a candidate for possible delisting. The Company will immediately amend its Form S3 and file the corrected document with the SEC.
About Viragen, Inc. Viragen is a biotechnology company specializing in the research, development and commercialization of natural and recombinant protein-based drugs designed to treat a broad range of viral and malignant diseases. These protein-based drugs include natural human alpha interferon, monoclonal antibodies, peptide drugs and therapeutic vaccines. Viragen's strategy also includes the development of Avian Transgenic Technology for the large-scale, cost-effective manufacturing of its portfolio of protein-based drugs, as well as offering Contract Manufacturing for the entire biopharmaceutical industry.
Viragen is publicly traded on the American Stock Exchange (VRA). Viragen's majority owned subsidiary, Viragen International, Inc., is publicly traded on the Over-The-Counter Bulletin Board (VGNI). Viragen's key partners and licensors include: Roslin Institute, Memorial Sloan-Kettering Cancer Center, National Institutes of Health, Cancer Research UK, University of Nottingham (U.K.), University of Miami, America's Blood Centers and the German Red Cross.
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Viragen, Inc. Corporate Contact:
Douglas Calder, Director of Communications Phone: (954) 233-8746; Fax: (954) 233-1414 E-mail: dcalder@viragen.com
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The foregoing press release contains forward-looking statements that can be identified by such terminology such as "expects", "potential", "suggests", "may", "will", or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations regarding future research, development and/or commercial results could be affected by, among other things, uncertainties relating to clinical trials and product development; availability of future financing; unexpected regulatory delays or government regulation generally; the Company's ability to obtain or maintain patent and other proprietary intellectual property protection; and competition in general. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
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