GTC Biotherapeutics, Inc. ("GTC", NASDAQ: GTCB) has received from a NASDAQ Hearings Panel an extension to March 16, 2010 to regain compliance with the market value of listed securities requirement for continued listing on The NASDAQ Capital Market, as specified by NASDAQ Listing Rule 5550(b)(2). The Company’s common stock will continue to be listed on The NASDAQ Capital Market during the extension. GTC can satisfy the terms of the Panel’s decision by demonstrating a market value of listed securities of at least $35 million for ten consecutive trading days prior to the end of the extension period.
About GTC Biotherapeutics
GTC Biotherapeutics develops, supplies and commercializes therapeutic proteins produced through transgenic animal technology. ATryn®, GTC’s recombinant human antithrombin, has been approved for use in the United States and Europe. ATryn is the first and only product produced in transgenic animals to be approved for therapeutic use anywhere in the world. In addition to ATryn, GTC is developing a portfolio of recombinant human plasma proteins with known therapeutic properties. These proteins include recombinant forms of human coagulation factors VIIa and IX, which are being developed for the treatment of hemophilia. GTC is also developing a portfolio of follow-on biologic monoclonal antibodies and a CD20 antibody with enhanced ADCC (antibody-dependent cell-mediated cytotoxicity). GTC’s intellectual property includes a patent in the United States through 2021 for the production of any therapeutic protein in the milk of any transgenic mammal. GTC’s transgenic production platform is particularly well suited to enabling cost effective development of proteins that are difficult to express in traditional recombinant production systems as well as proteins that are required in large volumes. Additional information is available on the GTC web site, http://www.gtc-bio.com.
Contacts:
Thomas E. Newberry, 508-370-5374
Vice
President, Corporate Communications and Government Relations
tom.newberry@gtc-bio.com