NEW YORK, Feb. 22, 2008 (PRIME NEWSWIRE) -- Manhattan Pharmaceuticals, Inc. (AMEX:MHA) today announced that it has formally notified the American Stock Exchange ("AMEX") that it intends to voluntarily delist its common stock from AMEX. The company expects that the delisting will become effective within the next 25 calendar days. The company had been notified by AMEX on December 3, 2007, that failure to regain compliance with AMEX's listing requirements by April 16, 2008, will likely result in AMEX's staff initiating delisting proceedings pursuant to Section 1009 of the AMEX Company Guide. As the company could not ensure that it would meet such listing requirements, and in order to close on the joint venture transaction it recently entered into with Nordic Biotech Advisors ApS (Nordic) for the development and commercialization of Hedrin, the company's novel, non-insecticide treatment for head lice, the company determined to delist its common stock from AMEX.
