NASDAQ Stock Market issues deficiency letter to NUCRYST Pharmaceuticals

NUCRYST Pharmaceuticals, a developer and manufacturer of medical products that fight infection and inflammation, today announced that on September 15, 2009 it received notice from the Nasdaq Stock Market that it no longer complies with Nasdaq Marketplace Rule 5550(a)(2) because, for the previous 30 consecutive business days, the bid price of its common stock had closed below the minimum requirement of $1.00 per share. Receipt of this notification has no immediate effect on the NASDAQ listing of the Company's common shares.

In accordance with Marketplace Rule 5810(c)(3)(A), the Company has until March 15, 2010 to regain compliance, which requires a closing bid price of the Company's common stock at or above $1.00 per share for a minimum of 10 consecutive business days. In the event the Company does not regain compliance within this period, Nasdaq will issue a written notification that the Company's shares are subject to delisting. If the Company is not deemed in compliance prior to March 15, 2010, but demonstrates that it meets all applicable standards for initial listing on the Nasdaq Capital Market (except the bid price requirement) on such date, it will be afforded an additional 180 day compliance period.

NUCRYST is currently evaluating its alternatives to resolve the listing deficiency.