SOUTH SAN FRANCISCO, Calif., April 29, 2008 (PRIME NEWSWIRE) -- Hana Biosciences (Nasdaq:HNAB), a biopharmaceutical company focused on strengthening the foundation of cancer care, today announced that it has received notice from the Nasdaq Stock Market that the company has regained compliance with Marketplace Rule 4450(a)(5) (the "Rule") relating to the maintenance of a minimum $1.00 bid price of the company's common stock.
Nasdaq had previously notified the company on February 29, 2008 that its common stock had failed to maintain a minimum bid price of at least $1.00 per share, as required by the Rule, and that the Company had 180 calendar days to regain compliance. Since then, the closing bid price of the company's common stock has been at $1.00 per share or greater for at least 10 consecutive days. Accordingly, Nasdaq has determined that the company has regained compliance with the Rule.
About Hana Biosciences, Inc.
Hana Biosciences, Inc. (Nasdaq:HNAB) is a South San Francisco, CA-based biopharmaceutical company focused on acquiring, developing, and commercializing innovative products to strengthen the foundation of cancer care. The Company is committed to creating value by accelerating the development of its product candidates, including entering into strategic partnership agreements and expanding its product candidate pipeline by being an alliance partner of choice to universities, research centers and other companies. Additional information on Hana Biosciences can be found at www.hanabiosciences.com.
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "expects," "plans," "believes," "intends," and similar words or phrases. These statements are based on current expectations, forecasts and assumptions that 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 Hana will continue to maintain Nasdaq's continued listing standards or that its common stock will not be subject to delisting in the future. Additional risks that may affect such forward-looking statements are described in the company's Annual Report on Form 10-K for the year ended December 31, 2007 filed with the Securities and Exchange Commission. Hana assumes no obligation to update these statements, except as required by law.