Full Press Release Details
| CONTACTS: | Warren Lancaster | |
| 1-203-966-2556 (USA) | ||
| warren.lancaster@marshalledwardsinc.com | ||
| David Sheon | ||
| 1 202 547-2880 (USA) | ||
| dsheon@WHITECOATstrategies.com |
MARSHALL EDWARDS, INC. RECEIVES NASDAQ NOTICE OF MINIMUM BID PRICE NON-COMPLIANCE
NEW CANAAN CT September 22, 2009 Marshall Edwards, Inc., (NASDAQ: MSHL), a specialist
oncology company focusing on the clinical development of novel anti-cancer therapeutics, today
announced that on September 16, 2009, as management expected, the Company received a letter from
The Nasdaq Stock Market notifying the Company that for the last 30 consecutive business days the
bid price of the Company s common stock closed below the minimum $1.00 per share requirement for
continued inclusion on the Nasdaq Global Market under Nasdaq Rule 5450(a)(1). According to
Nasdaq s letter, the Company will be afforded a grace period of 180 calendar days, or until March
15, 2010, to regain compliance in accordance with Nasdaq Rule 5810(c)(3)(A). In order to regain
compliance, shares of the Company s common stock must maintain a minimum bid closing price of at
least $1.00 per share for a minimum of ten consecutive business days during the grace period.
The Company intends to actively monitor the bid price of its common stock between now and March 15,
About Marshall Edwards, Inc.
Marshall Edwards, Inc. is a specialist oncology company focused on the clinical development of
novel anti-cancer therapeutics. These derive from a flavonoid technology platform, which has
generated a number of novel compounds characterized by broad ranging activity against a range of
cancer cell types with few side effects. The combination of anti-tumor cell activity and low
toxicity is believed to be a result of the ability of these compounds to target an enzyme present
in the cell membrane of cancer cells, thereby inhibiting the production of pro-survival proteins
within the cell. Marshall Edwards has licensed rights from Novogen Limited (ASX: NRT NASDAQ: NVGN)
to bring four oncology drugs phenoxodiol, triphendiol
NV-143 and NV-128 to market globally.
Marshall Edwards is majority owned by Novogen (ASX: NRT, NASDAQ: NVGN), an Australian biotechnology
company that is specializing in the development of therapeutics based on a flavonoid technology
platform. Novogen is developing a range of therapeutics across the fields of oncology,
cardiovascular disease and inflammatory diseases. More information on phenoxodiol and on the
Novogen group of companies can be found at www.marshalledwardsinc.com and www.novogen.com.
Under U.S. law, a new drug cannot be marketed until it has been investigated in clinical trials and
approved by the FDA as being safe and effective for the intended use. Statements included in this
press release that are not historical in nature are forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You should
be aware that our actual results could differ materially from those contained in the
forward-looking statements, which are based on management s current expectations and are subject to
a number of risks and uncertainties, including, but not limited to, our failure to successfully
commercialize our product candidates; costs and delays in the development and/or FDA approval, or
the failure to obtain such approval, of our product candidates; uncertainties in clinical trial
results; our inability to maintain or enter into, and the risks resulting from our dependence upon,
collaboration or contractual arrangements necessary for the development, manufacture,
commercialization, marketing, sales and distribution of any products; competitive factors; our
inability to protect our patents or proprietary rights and obtain necessary rights to third party
patents and intellectual property to operate our business; our inability to operate our business
without infringing the patents and proprietary rights of others; general economic conditions; the
failure of any products to gain market acceptance; our inability to obtain any additional required
financing; technological changes; government regulation; changes in industry practice; and one-time
events. We do not intend to update any of these factors or to publicly announce the results of any
revisions to these forward-looking statements.