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CombinatoRx Announces Compliance with NASDAQ Audit Committee Listing Standard
Business Wire, May 10, 2006
CAMBRIDGE, Mass. -- CombinatoRx, Incorporated (NASDAQ: CRXX) today announced that on May 5, 2006 it appointed Barbara Deptula, an independent director, to serve on the Audit Committee to replace Jacob Goldfield. On May 5, 2006, CombinatoRx received notice from NASDAQ that the Audit Committee of the Company's Board of Directors did not consist of three independent directors, as required by the listing requirements of NASD Marketplace Rule 4350(d)(2) and also received written confirmation that with the appointment of Ms. Deptula, the rule had been satisfied, and the matter is closed.
About CombinatoRx
CombinatoRx, Incorporated is a biopharmaceutical company focused on developing new medicines built from synergistic combinations of approved drugs, designed to attack disease on multiple fronts. CombinatoRx applies its proprietary combination drug discovery technology to identify new combination product candidates in a number of disease areas, including immunoinflammatory disease, oncology, metabolic disease, neurodegenerative disease, and infectious disease. By applying our proprietary screening technology, we have discovered and advanced into clinical trials a portfolio of six product candidates targeting multiple diseases. For further information, please visit the CombinatoRx website at www.combinatorx.com.
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning CombinatoRx, its plans for its product candidates, and plans for other research and development programs. These forward-looking statements involve significant risks, uncertainties and assumptions, including those discussed in this release and others that can be found in the "Risk Factors" section of CombinatoRx's Annual Report on Form 10-K on file with the Securities and Exchange Commission, and the other filings made by CombinatoRx with the Securities and Exchange Commission. No forward-looking statement can be guaranteed and actual results may differ materially from those CombinatoRx projects. CombinatoRx is providing this information as of this date and does not undertake any obligation to publicly update any forward-looking statements contained in this document as a result of new information, future events or otherwise, except as required by law.
(c) 2006 CombinatoRx, Incorporated. All rights reserved.
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