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WORCESTER, Mass., July 15, 2010 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (Nasdaq:GNBT) (
www.generex.com) today announced its receipt of a decision by the NASDAQ Listing Qualifications Panel, which granted the Company's request for continued listing of the Company's common stock on The NASDAQ Stock Market on an interim basis, subject to certain conditions subsequent which are described in the Form 8-K Current Report filed by the Company with the Securities and Exchange Commission on EDGAR (
www.sec.gov) earlier today.
"I am pleased to see that the Panel recognized the opportunities available to the Company through prospective business events and gave us the opportunity to remain listed on The NASDAQ Stock Market," said Anna Gluskin, the Company's President & Chief Executive Officer. "We are looking forward to our upcoming annual meeting of the Generex stockholders and the prospect of an exciting and positive year ahead."
About Generex Biotechnology Corporation
Generex is engaged in the research, development and commercialization of drug delivery systems and technologies. Generex has developed a proprietary platform technology for the delivery of drugs into the human body through the oral cavity (with no deposit in the lungs). The Company's proprietary liquid formulations allow drugs typically administered by injection to be absorbed into the body by the lining of the inner mouth using the Company's proprietary RapidMist™ device. The Company's flagship product, buccal insulin (Generex Oral-lyn™), which has been approved in India, Lebanon, Algeria, and Ecuador for the treatment of subjects with Type-1 and Type-2 diabetes, is in Phase III clinical trials at several sites around the world. Antigen Express, Inc. is a wholly owned subsidiary of Generex. The core platform technologies of Antigen Express comprise immunotherapeutics for the treatment of malignant, infectious, allergic, and autoimmune diseases. For more information, visit the Generex website at
www.generex.com or the Antigen Express website at
The Generex Biotechnology Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3831Safe Harbor Statement
This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as "expects," "plans," "intends," "believes," "will," "estimates," "forecasts," "projects," or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex cannot be sure when or if it will be permitted by regulatory agencies to undertake additional clinical trials or to commence any particular phase of clinical trials. Because of this, statements regarding the expected timing of clinical trials cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any "phase" of clinical trials. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the
Private Securities Litigation Reform Act.
CONTACT: American Capital Ventures, Inc.
Investor Relations Contact:
Beckerman Public Relations