Boston Life Sciences Reports New Option Grants Under NASDAQ Market Rule 4350
April 17 2007 - 10:00AM
PR Newswire (US)
HOPKINTON, Mass., April 17 /PRNewswire-FirstCall/ -- Boston Life
Sciences, Inc. (NASDAQ:BLSI) announces, in accordance with NASDAQ
Marketplace Rule 4350, as amended, it granted inducement stock
options in connection with the commencement of employment of Frank
Bobe. These options were granted without stockholder approval
pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) under the
following terms: 300,000 non-qualified stock options to Frank Bobe
with an exercise price equal to $2.94, having a ten year duration
and vesting as to one-third immediately and the remaining
two-thirds vesting ratably over the next 36 months. About Boston
Life Sciences, Inc. Boston Life Sciences, Inc. (BLSI) is engaged in
the research and clinical development of diagnostic and therapeutic
products for central nervous system (CNS) disorders. ALTROPANE(R)
molecular imaging agent is in Phase III clinical trials for the
diagnosis of Parkinson's Disease (PD) and Phase II clinical trials
for the diagnosis of Attention Deficit Hyperactivity Disorder
(ADHD). Cethrin(R), a recombinant-protein-based drug designed to
promote nerve repair after acute spinal cord injury, has reported
positive interim results in a Phase I/IIa clinical trial. The
company's research and pre-clinical CNS programs include Inosine
for the treatment of spinal cord injury and stroke, a DAT blocker
for the treatment of Parkinson's disease, and a second generation
technetium-based molecular imaging agent for PD and ADHD. BLSI's
current research collaborations include Harvard Medical School and
Children's Hospital Boston. Safe Harbor 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 Boston Life
Sciences' future expectations, beliefs, intentions, goals,
strategies, plans or prospects regarding the future, including the
Company's licensing arrangement with BioAxone, including the
development and commercialization of Cethrin, the prospects of the
Company's CNS therapeutics program, 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, 2006 filed with
the Securities and Exchange Commission under the section "Risk
Factors," as well as other documents that may be filed by Boston
Life Sciences 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. Boston Life Sciences
is providing the information in this press release as of this date
and assumes no obligations to update the information in this press
release. BLSI Contacts: Sharon Correia 508-497-2360 ext. 224
DATASOURCE: Boston Life Sciences, Inc. CONTACT: Sharon Correia of
Boston Life Sciences, Inc., +1-508-497-2360 Ext. 224, Web site:
http://www.bostonlifesciences.com/
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