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Biotech / Medical : EBIO: Epoch Pharmaceuticals -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (22)	12/11/2002 8:23:46 AM
From: dalroi	Respond to of 33

No new dillution :-) Stefaan 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