Aksys, Ltd.

Dialysis systems maker responds to Nasdaq notification

Published in Pharma Investments, Ventures and Law Weekly, March 5th, 2006

Aksys, Ltd., (AKSY), a developer of dialysis systems, has received a determination from the Nasdaq Stock Market that the common stock purchase agreement, which the company executed on January 13, 2006, violated Nasdaq's shareholder approval rules contained in Nasdaq Marketplace Rule 4350(i)(1)(D)(ii) and IM 4350-2.

The company and Fusion Capital Fund II, LLC have amended the agreement in response to the Nasdaq's determination. The amendment clarifies the circumstances under which shareholder approval would be required.

The Nasdaq staff has confirmed that the agreement, as amended, now complies with Nasdaq's shareholder approval rules.

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Source: Pharma Investments, Ventures and Law Weekly (2006-03-05)

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