NEW YORK, March 26, 2008 (PRIME NEWSWIRE) -- Manhattan Pharmaceuticals, Inc. (OTCBB:MHAN) today announced that it has obtained a new ticker symbol, "MHAN". Effective immediately the company's common stock will begin trading under the new ticker symbol on the OTC Bulletin Board(r) (OTCBB), the over-the-counter equity securities market owned, managed and regulated by the NASD/FINRA. Manhattan Pharmaceuticals shares were previously traded on the American Stock Exchange under the ticker symbol "MHA" (AMEX:MHA). The OTCBB is a regulated quotation service that displays real-time quotes, last-sale prices and volume information for over 3,300 companies.
According to the OTC Bulletin Board(r) Eligibility Rule, only those companies that report their current financial information to the SEC, banking, or insurance regulators will be permitted to be quoted on the OTCBB. Manhattan Pharmaceuticals intends to maintain appropriate corporate governance, disclosure and reporting procedures consistent with SEC regulations, and applicable law.
About Manhattan Pharmaceuticals, Inc.
Manhattan Pharmaceuticals, Inc. is a specialty pharmaceutical company that acquires and develops novel, high-value drug candidates primarily for the treatment of dermatologic and immune disorders. With a pipeline consisting of four clinical stage product candidates, Manhattan Pharmaceuticals is developing potential therapeutics for large, underserved patient populations seeking superior treatments for conditions including pediculosis (head lice), psoriasis, pruritus associated with atopic dermatitis (eczema), and mastocytosis. (http://www.manhattanpharma.com)
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that could cause Manhattan Pharmaceuticals, Inc.'s actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "expects," "plans," "believes," "intends," "will," and similar words or phrases. These statements are based on Manhattan Pharmaceuticals, Inc.'s current expectations, forecasts and assumptions, which are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from these statements. Among other things, there can be no assurances that we will be able to maintain its status as an OTC Bulletin Board company. Additional risks are described in the company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007. Manhattan Pharmaceuticals, Inc. assumes no obligation to update these statements, whether as a result of new information, future events, or otherwise, except as required by law.