Message #12 From:
NewsBot Date: July 7, 2006 06:45:00 AM
ISRY News IsoRay Announces Withdrawal of NASDAQ Application
RICHLAND, Wash.--(BUSINESS WIRE)--July 7, 2006--IsoRay, Inc. ("IsoRay") (OTCBB:ISRY), a medical technology company focusing on innovative treatment for prostate cancer and other solid cancer tumors through use of its proprietary Cesium-131 brachytherapy seeds, announced that it has withdrawn its application for a listing on the NASDAQ Capital Market. The application was withdrawn because IsoRay's stock did not meet the minimum bid requirement of $4 for more than ten trading days, and thus did not meet the listing requirements for the NASDAQ Capital Market. IsoRay plans to reapply for a listing on the NASDAQ Capital Market once its common stock regains its former pricing level.
About IsoRay
IsoRay, Inc., through its subsidiary, IsoRay Medical, Inc., is the sole producer of the Cesium-131 brachytherapy seed, used to treat prostate and other cancers. The Cesium-131 seed offers a significantly shorter half-life than the two other isotopes commonly used for brachytherapy, which results in a substantially faster delivery of therapeutic radiation, lower probability of cancer cell survival and reduction of the longevity of common brachytherapy side effects. IsoRay is based in Richland, Washington. More information is available about IsoRay at www.isoray.com.
Safe Harbor Statement
Statements in this news release about IsoRay's future expectations, including: IsoRay's ability in the future to meet NASDAQ listing requirements, and all other statements in this release, other than historical facts, are forward-looking statements. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as IsoRay's ability to maintain a $50 million market capitalization, future bid prices of IsoRay's common stock being above $4.00 per share, any future changes to NASDAQ listing requirements, and other risks detailed from time to time in IsoRay's reports filed with the SEC.
