SAN FRANCISCO, June 23, 2011 /PRNewswire/ -- Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (NASDAQ: MERR), today announced that it will serve as the Designated Advisor for Disclosure (DAD) for Radient Pharmaceuticals Corporation (OTCQX: RXPC) as it transitions from trading on the NYSE Amex and begins trading on OTCQX®.
Radient Pharmaceuticals is dedicated to saving lives and money for patients and global healthcare systems through the deployment of its FDA-cleared Onko-Sure® cancer test kit for colorectal cancer treatment and recurrence monitoring. After previously trading on NYSE Amex, the Company announced today that it is now trading on the OTC market's highest tier, OTCQX.
In making this transition, Radient Pharmaceuticals joins a growing list of companies that have chosen to move off a U.S. exchange and onto OTCQX. In doing so, the Company and its investors will continue to benefit from a compliance-driven, full-service trading platform that is more efficient and cost-effective than a traditional exchange listing.
OTCQX distinguishes the best companies traded over-the-counter (OTC) from more than 9,000 securities traded on the OTCBB and OTC Link that are not required to meet any financial standards or undergo a qualitative review.
Spencer Grimes, Merriman Capital Managing Director, said: "We are very pleased to be partnering with Radient Pharmaceuticals on their transition to OTCQX. The decision to be quoted on the more cost effective and efficient OTCQX platform is in their shareholders' best interest and will allow management to stay focused on their core business. I have no doubt that many more companies will be following Radient Pharmaceuticals from an exchange listing to QTCQX."
Radient Pharmaceuticals CEO, Douglas MacLellan, commented: "In moving to OTCQX, we have chosen to continue to deliver liquidity, transparency and an efficient market for our shareholders, while reducing listing costs for our company, freeing up more time and resources to execute on our core business."
About Merriman Capital, Inc.
Merriman Capital, Inc. is a full-service investment banking firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients and high net worth investors. Merriman Capital, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc., which is listed on the NASDAQ Stock Market and trades under the symbol "MERR."
Merriman specializes in four growth sector industries: Technology, Telecom, Consumer, Media & Internet and CleanTech Infrastructure. For more information, please go to http://www.merrimanco.com/. Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org/contact.cfm.
About Radient Pharmaceuticals Corporation
Headquartered in Tustin, California, Radient Pharmaceuticals Corporation is dedicated to saving lives and money for patients and global healthcare systems through the deployment of its FDA-cleared Onko-Sure® cancer test kit for colorectal cancer treatment and recurrence monitoring. The Company's focus is on the discovery, development, and commercialization of unique high-value diagnostic tests that will help physicians answer important clinical questions related to early disease-state detection, treatment strategy, and the monitoring of disease progression or deterrence. To learn more about our company, products, and potentially life-saving cancer test, visit www.radient-pharma.com.
The OTCQX marketplace is the premier tier of the U.S. OTC market. Investor-focused companies use the quality-controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. The innovative OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a U.S. stock exchange. For more information and to view a full list of OTCQX companies, visit www.otcqx.com.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 28, 2011. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," " believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 28, 2011, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."