BIOGENETIC SCIENCES VOLUNTARILY DELISTS FROM NASDAQ
AND INTENDS TO APPLY TO THE OTC BULLETIN BOARD
Copiague, New York, January 9, 2002 ‚ American
Biogenetic Sciences, Inc. (ABS or Company) (Symbol:MABA)
has decided to voluntarily delist the Company's common
stock from quotation on the Nasdaq SmallCap Market.
The voluntary delisting of the stock was effective
at the close of business on January 8, 2002. The trading
halt imposed by Nasdaq on the Company's common stock
since November 26, 2001 is no longer applicable.
ABS intends to have an application for quotation
of its common stock filed with the NASD's OTC Bulletin
Board (OTCBB) by an NASD member firm, as soon as possible.
There can be no assurance that a NASD member firm
will file such application or that the Companyís common
stock will be accepted for quotation and trading on
the OTCBB or the Pink Sheets.
American Biogenetic Sciences, Inc., based in Copiague,
NY, is a development stage company engaged in researching
and developing diagnostic tests for cardiopulmonary
conditions and treatments for neurological disorders,
including epilepsy, migraine, mania, and Alzheimer's
disease. As a developer of biogenetic technologies
and compounds, ABS to date has been issued over 75
patents, both US and foreign, and there are over 100
Note Regarding Forward-Looking Statements
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995: Certain statements
contained in this press release that are not historical
facts are forward-looking statements that involve
a number of known and unknown risks, uncertainties
and other factors that could cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or
achievement expressed or implied by such forward-looking
statements. These risks and uncertainties include,
but are not limited to, the willingness of broker/dealers
to trade or make a market in the Companyís common
stock and the approval by the OTC Bulletin Board of
the common stock for quotation in the OTC Bulletin
Board or in the Pink Sheets, the general condition
of the economy; and other risks detailed in the Company's
Securities and Exchange Commission (SEC) filings.
In addition, a discussion of the risks and uncertainties
related to the Company's other areas of business are
detailed in the Company's SEC filings, including its
annual report or Form 10-K. The words "intend," "expect,"
"anticipate," and "plan" and similar expressions identify
forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking
statements, which speak only as of the date the statement
For a complete analysis of the ABS pipeline
go to: /research.html.