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Biotech / Medical : EBIO: Epoch Pharmaceuticals

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To: tuck who wrote (22)12/11/2002 8:23:46 AM
From: dalroi   of 33
No new dillution :-)


Epoch Biosciences Applies to Transfer to Nasdaq SmallCap Market

BOTHELL, Wash., Dec. 11 /PRNewswire/ --
Epoch Biosciences, Inc. (NASDAQ:EBIO), a provider of proprietary products
that accelerate genomic analysis, announced that it has applied to The Nasdaq
Stock Market, Inc. to transfer the listing of its common stock from the Nasdaq
National Market to the Nasdaq SmallCap Market.
The company meets all the requirements of the Nasdaq National Market
except for the new $10 million minimum stockholders' equity standard under
Marketplace Rule 4450(a)(3). In its quarterly report on Form 10-Q for the
period ended September 30, 2002, the Company reported stockholders' equity of
approximately $8.7 million.
The company expects to receive Nasdaq's approval decision within the next
ten days and will maintain its current National Market status pending approval
of the transfer application. The company believes that it meets all listing
requirements of the Nasdaq SmallCap Market and anticipates approval of the
transfer. The company's common stock will continue to be traded under the
symbol "EBIO".
William G. Gerber, chief executive officer, stated, "We believe the
voluntary move to the Nasdaq SmallCap Market is in the best interest of our
shareholders and is preferable to raising additional equity in order to meet
the new stockholders equity standard. This move will allow us to continue to
focus on the fundamentals of our business, which we believe is the best way to
drive shareholder value
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