Calypte Announces Trading Symbol Change From HIV to CBMC
Aug 31, 2006 5:17:00 PM
LAKE OSWEGO, Ore., Aug. 31 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation (Amex: HIV changed to OTC Bulletin Board: CBMC), medical diagnostic tests manufacturer for the detection of antibodies to the human immunodeficiency virus (HIV) for the professional point of care (PRO) and over the counter (OTC) segments of the market announced today that it has been issued a new ticker symbol (CBMC) and effective today, August 31, 2006, its common stock is being quoted under the new symbol on the Pink Sheets. To find the Company's information through online financial websites it may be necessary to enter "CBMC.PK".
The Company is current in all of its filings with the Securities and Exchange Commission (SEC) and accordingly believes its common stock is eligible for quotation on the NASD Over the Counter Bulletin Board (OTCBB), subject to a market maker establishing a market in the Company's common stock on the quotation service under applicable OTCBB rules. Commencement of quotation on the OTCBB is being facilitated by the efforts of an applying market maker, under whose sponsorship the Company's common stock has been submitted to NASD today. The Company expects this process to be completed quickly and will announce when its common stock has been cleared for quotation on the OTCBB.
As previously announced in a press release issued on July 31, 2006, the Company filed a voluntary request with the American Stock Exchange (Amex) to withdraw its common stock from listing on the Amex effective as soon as practicable in compliance with the rules and regulations of the Amex and the SEC.
About Calypte Biomedical:
Calypte Biomedical Corporation (http://www.calypte.com) is a U.S.-based healthcare company focused on the development and commercialization of diagnostic testing products for the detection of sexually transmitted diseases such as the HIV-1 BED Incidence EIA and new diagnostic test products for the rapid detection of HIV and other sexually transmitted diseases, several of which do not require blood samples. Calypte believes there is a significant need for rapid detection of such diseases globally to control their proliferation, particularly in developing countries, which lack the medical infrastructure to support laboratory-based testing. Calypte believes that testing for HIV and other sexually transmitted infectious diseases may make important contributions to public health, and could increase the likelihood of treating those with undetected HIV and other sexually transmitted diseases.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the Company's ability to obtain additional financing, if and as needed, and access funds from its existing financing arrangements that will allow it to continue its current and future operations and whether demand for its test products in domestic and international markets will generate sufficient revenues to achieve positive cash flow and profitability. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-KSB for the year ended December 31, 2005 and its subsequent filings with the SEC.
Company Contact: Investor Relations Contact:
Theodore R Gwin, Chief Financial Officer Tim Clemensen,
(971) 204-0282 Rubenstein Investor Relations
email:tgwin@calypte.com Phone: (212) 843-9337
email:tclemensen@rubensteinir.com
SOURCE Calypte Biomedical Corporation
----------------------------------------------
Theodore R Gwin
Chief Financial Officer of Calypte Biomedical Corporation
+1-971-204-0282
tgwin@calypte.com; or Tim Clemensen of Rubenstein Investor Relations
+1-212-843-9337
tclemensen@rubensteinir.com
for Calypte Biomedical Corporation
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