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Advanced Magnetics, Inc. today announced that it will list its common stock on the NASDAQ National Market effective Tuesday, 27 June 2006. Advanced Magnetics has been listed on the American Stock Exchange since 1991 and is a developer of superparamagnetic iron oxide nanoparticles used in pharmaceutical products.
As of the close of market on 26 June 2006, Advanced Magnetics’ common stock will cease trading on the American Stock Exchange under the trading symbol “AVM.” As of the opening of the market on Tuesday, 27 June 2006, Advanced Magnetics’ common stock will trade exclusively on the NASDAQ National Market under the trading symbol “AMAG.”
“We believe that the NASDAQ National Market will not only provide more recognition for Advanced Magnetics in the investment community, but also create a more liquid and transparent marketplace for the trading of shares of our common stock,” said Jerome Goldstein, Chairman and CEO of Advanced Magnetics. “We have been pleased with our relationship with the American Stock Exchange staff and AIM Securities, our specialist, and we appreciate their professionalism.”
“We are very pleased to welcome Advanced Magnetics to NASDAQ and our family of 3200 innovative companies,” said Bruce Aust, Executive Vice President of NASDAQ. “NASDAQ looks forward to supporting Advanced Magnetics as they continue to pass new corporate milestones.”
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