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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: JULY 13, 1998
(Date of earliest event reported)
CORTECH, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-20726 84-0894091
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
6850 N. BROADWAY, SUITE G, DENVER, COLORADO 80221
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 650-1200
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ITEM 5. OTHER EVENTS
On July 13, 1998, Cortech, Inc. ("Cortech") received a letter from The
Nasdaq Stock Market, Inc. ("Nasdaq") stating that, effective as of the close
of business on July 13, 1998, Cortech Common Stock had been delisted from
the Nasdaq National Market. A copy of Cortech's press release announcing the
delisting of Cortech Common Stock from the Nasdaq National Market is
attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(C) Exhibits
Exhibit No. Description
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99.1 Cortech press release dated July 13, 1998, announcing the
delisting of Cortech Common Stock from the Nasdaq National
Market.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: July 15, 1998 CORTECH, INC.
By: /s/ Diarmuid F. Boran
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Diarmuid F. Boran
Chief Operating Officer
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INDEX TO EXHIBITS
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Exhibit
Number Description
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99.1 Cortech press release dated July 13, 1998, announcing the
delisting of Cortech Common Stock from the Nasdaq National
Market.
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EXHIBIT 99.1
Cortech press release dated July 13, 1998, announcing the delisting of
Cortech Common Stock from the Nasdaq National Market.
[Cortech Letterhead]
CONTACT: Diarmuid F. Boran Janice M. Troha
CHIEF OPERATING OFFICER SENIOR DIRECTOR, CORPORATE DEVELOPMENT
Cortech, Inc. Cortech, Inc
(303) 657-7010 (303) 657-7140
CORTECH COMMON STOCK DELISTED BY NASDAQ
DENVER, Colo. -- July 13, 1998 -- Cortech, Inc. (OTCBB: CRTQ) a Denver-based
biopharmaceutical company, announced that it has been advised by The Nasdaq
Stock Market, Inc. (Nasdaq), in a letter dated July 13, 1998, that Cortech
Common Stock was delisted from the Nasdaq National Market as of the close of
business on July 13, 1998. Nasdaq's letter to Cortech stated that the
delisting resulted from Cortech's non-compliance with Nasdaq's minimum $1.00
per share bid price requirement.
Cortech expects that brokers will continue to make a market in Cortech Common
Stock on the OTC Bulletin Board.
Cortech's principal focus has been the discovery and development of novel
therapeutics for the treatment of inflammatory disorders. Specifically,
Cortech has directed its research and development efforts towards protease
inhibitors and bradykinin antagonists. In response to disappointing test
results and its loss of collaborative partner support, Cortech has
substantially reduced its staffing and has discontinued all internal research
and development activities.
All forward looking statements herein involve risks and uncertainties which
include, but are not limited to, the making of a market for Cortech Common
Stock on the OTC Bulletin Board and other factors discussed in Cortech's
filings with the Securities and Exchange Commission (including Cortech's
Annual Report on Form 10-K for the year ended December 31, 1997.)
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