October 18, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — PharmAthene, Inc. (AMEX: PIP) said that, based on information provided by PharmAthene in its compliance plan, and discussions with exchange staff, the NYSE AMEX LLC has determined that the company made a reasonable demonstration of its ability to regain compliance with the  NYSE AMEX listing requirements and granted PharmAthene an extension until January 26, 2012 to demonstrate its compliance.

Eric I. Richman, PharmAthene's interim CEO, said that his firm will be able to continue its listing during this time, subject to periodic reporting regarding progress under the compliance plan and review by the NYSE AMEX staff.  

On July 26, the company said it had received a letter from the NYSE AMEX, stating that it is not in compliance with the continued listing standards because it had stockholders' equity of less than $2 million, $4 million and $6 million and losses from continuing operations and/or net losses in two of its three most recent fiscal years, three of its four most recent fiscal years and its five most recent fiscal years, respectively.

PharmAthene submitted a compliance plan on August 25, addressing how it intends to regain compliance with relevand sections of the NYSE AMEX company guide by January 26, 2012.  

Maryland-based PharmAthene is a biodefense company developing medical countermeasures against biological and chemical threats.

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