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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported):
September 10, 1998
PACIFIC PHARMACEUTICALS, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-9613 36-3258753
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(Commission File Number) (IRS Employer Identification Number)
6730 Mesa Ridge Rd.
Suite A
San Diego, California 92121
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (619) 550-3900
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Item 5. Other Events.
On September 10, 1998, Pacific Pharmaceuticals, Inc. (the "Company") received
notice from the American Stock Exchange ("AMEX") that the Executive Committee
of the Exchange's Board of Governors has denied the Company's appeal of the
determination by the Exchange to remove the Company's Common Stock from the
AMEX because the Company no longer satisfies all of the financial guidelines
of the AMEX for continued listing. The last day of trading of the Company's
Common Stock on AMEX will be September 18, 1998. The Company anticipates that
trading will commence September 21, 1998 on the Over the Counter Bulletin
Board under the ticker symbol PPHA.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) EXHIBITS. The following exhibit accompanies this Report:
Exhibit
Number Exhibit Description
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99.62 News release dated September 11, 1998 announcing that
the Company has received notice from the AMEX that the
Executive Committee of the Exchange's Board of
Governors has denied the Company's appeal of the
determination by the Exchange to remove the Company's
Common Stock from the AMEX.
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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.
PACIFIC PHARMACEUTICALS, INC.
By: /s/ James Hertzog
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James Hertzog
Date: September 15, 1998 Controller-Principal Accounting Officer
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Index to Exhibits
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Exhibit Sequentially
Number Description of Exhibit Numbered Page
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99.62 News release dated September 11, 1998
announcing that the Company has received
notice from the AMEX that the Executive
Committee of the Exchange's Board of Governors
has denied the Company's appeal of the
determination by the Exchange to remove the
Company's Common Stock from the AMEX.
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EXHIBIT 99.62
Contact: Linda B. Preucil AMEX (PHA)
Director of Business Relations WWW.PACIFICPHARM.COM
908/ 497-0160
[email protected]
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For Immediate Release
PACIFIC PHARMACEUTICALS, INC. TO BE DELISTED BY AMEX
-TRADING TO COMMENCE ON OTC BULLETIN BOARD-
SAN DIEGO, CA, September 11, 1998 - Pacific Pharmaceuticals, Inc. today
announced that it has been notified by the American Stock Exchange (AMEX)
that the Executive Committee of the Exchange's Board of Governors has denied
the Company's appeal of the determination by the Exchange to remove the
Company's Common Stock from the AMEX. The last day of trading on the AMEX
will be Friday, September 18. Trading will commence Monday, September 21 on
the Over the Counter (OTC) Bulletin Board under the ticker symbol PPHA.
Investors may continue to contact licensed brokers to purchase shares of the
Company.
Through its majority owned subsidiary, BG Development Corp., Pacific is
rapidly moving forward in the clinical development of the recently acquired
chemosensitizer O6 Benzyl Guanine (BG), a promising new technology which
could revitalize the effectiveness of certain standard chemotherapy drugs
against a broad range of cancers. The National Cancer Institute (NCI) and
Pacific Pharmaceuticals are preparing to initiate several additional human
clinical studies in accordance with the Cooperative Research and Development
Agreement recently signed with the NCI.
Patients continue to be enrolled and treated in the ongoing Phase I clinical
study with Pacific's proprietary photodynamic therapy BOPP compound for the
treatment of brain cancer. Pacific manages products through research and
development, and regulatory approval to position them for successful
commercialization.
THIS NEWS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS. THE ACTUAL RESULTS
COULD VARY FROM THOSE EXPECTED DUE TO A VARIETY OF RISKS SET FORTH FROM TIME
TO TIME IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION,
INCLUDING THE COMPANY'S FORM 10-K FOR THE YEAR ENDED MARCH 31, 1998.
ADDITIONALLY, ALTHOUGH THE COMPANY HAS BEEN INFORMED THAT ONE OR MORE BROKERS
WILL MAKE A MARKET IN THE COMPANY'S STOCK ON THE OTC BULLETIN BOARD, SUCH
BROKERS ARE NOT OBLIGATED TO DO SO AND MAY DISCONTINUE MAKING A MARKET AT ANY
TIME. THE COMPANY UNDERTAKES NO OBLIGATION TO PUBLICLY RELEASE THE RESULTS
OF ANY OF THESE FORWARD LOOKING STATEMENTS WHICH MAY BE MADE TO REFLECT
EVENTS OR CIRCUMSTANCES AFTER THE DATE HEREOF OR TO REFLECT THE OCCURRENCE OF
UNANTICIPATED EVENTS.
