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Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact:
Domenic Micale
Vice President of Finance and Admin
UroMed Corporation
Tel: (781) 762-2080 x247
[email protected]
UROMED CORPORATION ANNOUNCES ITS COMMON STOCK LISTING ON THE OVER-THE-COUNTER
BULLETIN BOARD AND ITS DELISTING FROM THE NASDAQ SMALLCAP MARKET
NORWOOD, MA December 4, 2000
UroMed Corporation today announced that it has been notified by the Nasdaq
Stock Market, Inc. that its common stock will be delisted from the Nasdaq
SmallCap Market and will be available for trading on the Over-The-Counter
Bulletin Board ("OTCBB"), effective with the opening of business on December 6,
2000. The ticker symbol for UroMed's common stock will remain URMD.
As previously noted in our third quarter of 2000 earnings press release on
November 8, 2000, the delisting was the result of UroMed's inability to meet the
Nasdaq SmallCap Market's continued listing requirements. UroMed's common stock
will be traded on the OTCBB beginning with the opening of business on December
6, 2000. The OTCBB is a regulated quotation service that offers real-time
quotes, last-sale prices and volume information on over-the-counter equity
securities.
UroMed is dedicated to establishing itself as a leader in providing
interventional urological products, with primary emphasis on the treatment of
prostate cancer. The Company seeks to market a portfolio of products including
its two main proprietary products for the treatment of prostate cancer: the
CaverMap Surgical Aid, available to aid physicians in preserving vital nerves
during prostate cancer surgery, and the Symmetra I-125 radioactive seeds, used
in brachytherapy procedures to treat localized prostate cancer. The Company also
markets brachytherapy introducer needles. UroMed, through its approximate
one-third ownership of Assurance Medical Inc., has supported the development of
electronic palpation technology in order to aid physicians and patients in the
important mission of finding suspicious breast lumps earlier. UroMed also
continues to dedicate resources to the development and/or acquisition of product
lines that fit into its strategic platform.
RISK FACTORS AND FORWARD-LOOKING STATEMENTS
The Company recognizes that the previous paragraphs contain forward-looking
statements relating to the Company's future activities, including development
and commercialization of the company's CaverMap(R) Surgical Aid and Symmetra(TM)
I-125 radioactive seeds, and future growth. These forward-looking statements are
based largely on the Company's expectations and are subject to a number of risks
and uncertainties beyond the Company's control. Actual results could differ
materially from these forward-looking statements as the result of certain risks,
including the risk that physicians will not use its products in significant
numbers, the risk that physicians using its products will not develop into
long-term users, the Company's ability to successfully reduce costs, the
uncertainty of securing additional alliances, the uncertainty of manufacturing
scale-up and general market acceptance of the Company's Symmetra(TM) I-125
radioactive seeds, and the CaverMap(R) Surgical Aid, as well as the Company's
dependence on these products going forward, and the risk that the Company will
not be able to successfully develop any new products. There can be no assurance
that these risks would not have a material adverse effect on the Company. Other
relevant risks are described in the Company's Annual Report on Form 10-K for the
year ended December 31, 1999, under the headings "Forward-Looking Statements and
Associated Risks" and "Risk Factors," and in the Company's Forms 10-Q for the
periods ended March 31, 2000, June 30, 2000 and September 30, 2000 under the
headings "Liquidity and Capital Resources" and "Forward-Looking Statements and
Associated Risks", all of which are incorporated herein by reference.
CaverMap (R) Surgical Aid is a registered trademark of UroMed Corporation and
Symmetra (TM) I-125 Seeds is a trademark of UroMed Corporation.
