Viragen granted conditional trading extension by Amex

By Lisa Kerner

Erie, Pa., March 3 - Viragen, Inc. said its common stock continues to trade on the American Stock Exchange under a conditional trading extension, granted until March 20, 2007.

The company continues to provide Amex officials with quarterly updates, advising of actions it will take that are intended to bring Viragen back into compliance with continued listing standards, according to a company news release.

On March 1, the Amex notified Viragen that a review of the form 10-Q for the quarter ended Dec. 31 indicates that Viragen does not meet an additional continued listing standard, Section 1003(a)(i) of the Amex Company Guide, with stockholders' equity of less than $2 million and losses from continuing operations and/or net losses in two of its three most recent fiscal years.

Viragen had previously reported that it is not in compliance with Section 1003(a)(ii) and Section 1003(a)(iii).

The company is subject to periodic review by Amex officials during the extension period.

Viragen could be delisted from the Amex if the company fails to make progress consistent with its plan or to regain compliance with the Exchange's continued listing standards by the end of the extension period.

Viragen is a biotechnology company engaged in the research, development, manufacture and commercialization of pharmaceutical proteins for the treatment of viral diseases and cancers. The company is based in Plantation, Fla.

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