Mon, February 2, 2009
Sun, February 1, 2009
Sat, January 31, 2009
Fri, January 30, 2009
[ Fri, Jan 30th 2009 ] - Market Wire
Progen-Avexa Merger Update
Thu, January 29, 2009
Wed, January 28, 2009
Tue, January 27, 2009
[ Tue, Jan 27th 2009 ] - Market Wire
SCOR: SCOR sets up Zurich Hub
Mon, January 26, 2009
Sun, January 25, 2009
Fri, January 23, 2009
Thu, January 22, 2009
Wed, January 21, 2009
Tue, January 20, 2009
Mon, January 19, 2009
Fri, January 16, 2009
Thu, January 15, 2009

PhotoMedex Announces Effectiveness of 1-for-7 Reverse Stock Split


//health-fitness.news-articles.net/content/2009/ .. ffectiveness-of-1-for-7-reverse-stock-split.html
Published in Health and Fitness on , Last Modified on 2009-01-27 04:14:25 by Market Wire   Print publication without navigation


MONTGOMERYVILLE, Pa.--([ BUSINESS WIRE ])--PhotoMedex, Inc. (Nasdaq:PHMD) announced today the effectiveness of the reverse split of its common stock in the ratio of 1-for-7. The Company's common stock will begin trading at the market opening on January 27, 2009 on a split-adjusted basis under the symbol PHMDD for a period of 20 business days, or February 25, 2008, at which time the stock symbol will revert back to PHMD. The reverse split is intended to enable the Company to increase its marketability to institutional investors and to maintain its listing on the Nasdaq Global Market, among other benefits. As a result of the stock split, the Company now has 9,004,601 shares outstanding.

"The reverse split is part of a series of strategic actions we are taking to strengthen our financial position for future growth and development," commented Jeffrey O'Donnell, chief executive officer of PhotoMedex.

A new CUSIP identification number of 719358202 will be assigned to all stock certificates to differentiate them from pre-split certificates. Stockholders who have existing stock certificates will receive instructions from the Company's transfer agent, StockTrans, Inc., on how to exchange their stock certificates.

About PhotoMedex

PhotoMedex is engaged in the development of proprietary excimer laser and fiber optic systems and techniques directed toward dermatological applications, with FDA 510(k) clearances to market the XTRAC® laser system for the treatment of psoriasis, vitiligo, atopic dermatitis and The Company is a leader in the development, manufacturing and marketing of medical laser products and services. In addition, as a result of the merger with ProCyte, PhotoMedex now develops and markets products based on its patented, clinically proven Copper Peptide technology for skin health, hair care and wound care. PhotoMedex sells directly to dermatologists, plastic and cosmetic surgeons, and salons. ProCyte brands include Neova®, Ti-Silc®, VitalCopper®, Simple Solutions® and AquaSanté®.

This press release includes forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

DB1/62504487.1


Publication Contributing Sources