HAYWARD, Calif. - Dec. 2, 1998 (PRIMEZONE) - RiboGene, Inc. (AMEX:RBO), announced that the Company's shares have recently been recommended in an analyst report released by WallStreet Research, a prominent independent research boutique led by Joseph E. Jones, CFA, a former Director of Research at the American Stock Exchange. Mr. Jones, earlier in his career, was a senior analyst at Brown Brothers, Harriman & Co. and Standard & Poor's.
The research report has been distributed to clients of WallStreet Research, including several thousand stockbrokers, portfolio managers and institutional investors. The report is available to Company stockholders and the public through the IPO Monitor website at www.ipomonitor.com/wsr, together with additional information about WallStreet Research.
WallStreet Research specializes in the microcap arena, looking for emerging growth companies with strong management, unique or proprietary technology, significant market potential, financial strength, and outstanding long-term earnings growth.
RiboGene is a drug discovery company focused on the identification of novel lead compounds and the development of potential drug candidates for the treatment of infectious diseases. The company's drug discovery efforts target bacterial, fungal and viral infections, for which the efficacy of existing therapies is being threatened by the emergence of drug resistance or for which existing therapies have had limited effectiveness.
RiboGene has alliances with Dainippon Pharmaceutical Co., Ltd., Roberts Pharmaceutical Co. [AMEX: RPC], ArQule Inc. [Nasdaq: ARQL], Pharmacopeia Inc. [Nasdaq: PCOP] and EnzyMed.
RiboGene went public on May 28, 1998 at $7.00 per share through Gruntal & Co., LLC, in a 2.3 million share IPO. Its common stock is traded on the American Stock Exchange under the symbol RBO.
Except for the historical information contained herein this press release contains forward-looking statements that involve risks and uncertainties, which are discussed in Registration Statement No. 333-38781, as filed by the company with the Securities and Exchange Commission. The risk factors and other information contained in such Registration Statement should be considered in evaluating the company's prospects and future financial performance.
For more information on RiboGene, please visit the Company's website at www.ribogene.com, or view the copy of the WallStreet Research report at www.ipomonitor.com/wsr.
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