Alseres Pharmaceuticals, Inc. Complies With NASDAQ Rule Regarding Recently Filed...

Alseres Pharmaceuticals, Inc. Complies With NASDAQ Rule Regarding Recently
Filed 10-K

HOPKINTON, Mass., March 31 /PRNewswire-FirstCall/ -- Alseres
Pharmaceuticals, Inc. (Nasdaq: ALSE) today announced that the report of the
Company's independent registered public accounting firm regarding the
Company's 2007 financial statements contained an explanatory paragraph
regarding the Company's ability to continue as a going concern. NASDAQ
Marketplace Rules require NASDAQ-traded companies to publicly announce if
their Annual Report on Form 10-K includes an audit report containing a going
concern explanatory paragraph. For further information, please refer to the
Company's Annual Report on Form 10-K filed on March 31, 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070608/NEF043LOGO )
About Alseres Pharmaceuticals, Inc.
Alseres Pharmaceuticals, Inc. (ALSE) is engaged in the development of
therapeutic and diagnostic products primarily for disorders in the central
nervous system (CNS). The Company maintains a world-class intellectual
property position in the field of regenerative therapeutics. The Company's
energy and focus is reflected in several important initiatives. CETHRIN(R), a
recombinant-protein-based drug designed to promote nerve repair after acute
spinal cord injury, demonstrated positive interim results in a Phase I/IIa
clinical trial. The Company's research and pre-clinical programs include,
Inosine for the treatment of spinal cord injury and stroke, Oncomodulin for
the treatment of ocular injury and disease and research programs directed at a
number of regenerative therapies including bone repair. The Company has a
robust molecular imaging development program targeting diagnosis of
Parkinson's disease and potentially dementia and ADHD. The Company's lead
molecular imaging product candidate is ALTROPANE(R) which is in Phase III
clinical trials for the diagnosis of Parkinsonian Syndromes including
Parkinson's Disease. The Company has research collaborations with Harvard
Medical School and Children's Hospital Boston.
Forward-Looking Statements
The foregoing release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. Forward-
looking statements include statements regarding Alseres' future expectations,
beliefs, intentions, goals, strategies, plans or prospects regarding the
future, including the development and commercialization of ALTROPANE and
CETHRIN, the prospects of the Company's CNS and regenerative therapeutics
programs, the Company's strategies to develop and commercialize axon
regeneration technologies and the breadth of the Company's technologies and
intellectual property portfolio. Forward-looking statements can be identified
by terminology such as "anticipate," "believe," "could," "could increase the
likelihood," "estimate," "expect," "intend," "is planned," "may," "should,"
"will," "will enable," "would be expected," "look forward," "may provide,"
"would" or similar terms, variations of such terms or the negative of those
terms. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors including those risks, uncertainties and
factors referred to in the Company's Annual Report on Form 10-K for the year
ended December 31, 2007 filed with the Securities and Exchange Commission
under the section "Risk Factors," as well as other documents that may be filed
by Alseres from time to time with the Securities and Exchange Commission. As
a result of such risks, uncertainties and factors, the Company's actual
results may differ materially from any future results, performance or
achievements discussed in or implied by the forward-looking statements
contained herein. Alseres is providing the information in this press release
as of this date and assumes no obligations to update the information in this
press release.
Contact: Sharon Correia - 508-497-2360 ext 224
Alseres Pharmaceuticals, Inc.
scorreia@alseres.com

SOURCE Alseres Pharmaceuticals, Inc.

Sharon Correia of Alseres Pharmaceuticals, Inc., +1-508-497-2360 ext 224,
scorreia@alseres.com