Full Press Release Details
Cyclacel Pharmaceuticals, Inc.
CYCLACEL REGAINS NASDAQ COMPLIANCE
Berkeley Heights, NJ, January 27, 2010 Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ:
CYCCP; Cyclacel or the Company ) today announced that NASDAQ notified the Company that it has
regained compliance with the minimum $50 million market value of listed securities requirement, and
further, that it currently complies with all other applicable standards for continued listing on
The NASDAQ Global Market.
As required under NASDAQ s Listing Rules, to regain compliance, the Company was required to
evidence a market value of listed securities of $50 million or more for at least ten consecutive
days. On January 21, 2010, the market value of the Company s listed securities was approximately
$69.7 million, the tenth consecutive day it had exceeded the $50 million threshold. Accordingly,
the Company will continue to trade on The NASDAQ Global Market and the previously disclosed
delisting proceeding is now closed.
About Cyclacel Pharmaceuticals, Inc.
Cyclacel is a biopharmaceutical company dedicated to the discovery, development and
commercialization of novel, mechanism-targeted drugs to treat human cancers and other serious
disorders. Three orally-available Cyclacel drugs are in clinical development. Sapacitabine
(CYC682), a cell cycle modulating nucleoside analog, is in Phase 2 studies for the treatment of
acute myeloid leukemia in the elderly, myelodysplastic syndromes and lung cancer. The Company
plans to submit a Special Protocol Assessment (SPA) request for a pivotal study with sapacitabine
during the first quarter of 2010. Seliciclib (CYC202 or R-roscovitine), a CDK (cyclin dependent
kinase) inhibitor, is in Phase 2 studies for the treatment of lung cancer and nasopharyngeal cancer
and in a Phase 1 trial in combination with sapacitabine. CYC116, an Aurora kinase and VEGFR2
inhibitor, is in a Phase 1 trial in patients with solid tumors. Cyclacel s ALIGN Pharmaceuticals
subsidiary markets directly in the U.S. Xclair Cream for radiation dermatitis, Numoisyn Liquid
and Numoisyn Lozenges for xerostomia. Cyclacel s strategy is to build a diversified
biopharmaceutical business focused in hematology and oncology based on a portfolio of commercial
products and a development pipeline of novel drug candidates. Please visit
www.cyclacel.com for additional information.
This news release contains certain forward-looking statements that involve risks and uncertainties
that could cause actual results to be materially different from historical results or from any
future results expressed or implied by such forward-looking statements. Such forward-looking
statements include statements regarding, among other things, the efficacy, safety, and intended
utilization of Cyclacel s product candidates, the conduct and results of future clinical trials,
plans regarding regulatory filings, future research and clinical trials and plans regarding
partnering activities. Factors that may cause actual results to differ materially include the risk
that product candidates that appeared promising in early research and clinical trials do not
demonstrate safety and/or efficacy in larger-scale or later clinical trials, the risk that Cyclacel
will not obtain approval to market its products, the risks associated with reliance on outside
financing to meet capital requirements, and the risks associated with reliance on collaborative
partners for further clinical trials, development and commercialization of product candidates. You
are urged to consider statements that include the words may, will, would, could, should,
believes, estimates, projects, potential, expects, plans, anticipates, intends,
continues, forecast, designed, goal, or the negative of those words or other comparable
words to be uncertain and forward-looking. These factors and others are more fully discussed under
Risk Factors in the Annual Report on Form 10-K for the year ended December 31, 2008, as
supplemented by the interim quarterly reports, filed with the SEC.
Contacts for Cyclacel Pharmaceuticals, Inc.
Corey Sohmer, (908) 517-7330
Cyclacel are trademarks of Cyclacel Pharmaceuticals, Inc. Numoisyn and Xclair are trademarks
of Sinclair Pharma plc.
SOURCE: Cyclacel Pharmaceuticals, Inc.
200 Connell Drive, Suite 1500, Berkeley Heights, NJ 07922 USA T: 1 (908) 517 7330 F: 1 (866) 271 3466
Dundee Technopole, James Lindsay Place, Dundee, DD1 5JJ, UK Tel 44 1382 206 062 Fax 44 1382 206 067