NEW YORK, June 7, 2006 (PRIMEZONE) -- Manhattan Pharmaceuticals, Inc. (AMEX:MHA) today announced that Douglas Abel, president and chief executive officer, will ring the opening bell at the American Stock Exchange (Amex) on Friday, June 9, 2006 at 9:30am EDT. On hand for the bell ringing ceremony will be members of Mr. Abel's management team, including Nicholas J. Rossettos, Chief Financial Officer, Dr. Alan G. Harris, Chief Medical Officer, and Dr. Bina Tejura, Assistant Chief Medical Officer. Manhattan Pharmaceuticals began trading on the Amex under the symbol MHA on October 7, 2005. "We believe our listing on the Amex has afforded Manhattan Pharmaceuticals great visibility and it supports our vision of future growth for the company," Mr. Abel said. "It is an honor to be part of the American Stock Exchange and to participate in this great tradition."
About Manhattan Pharmaceuticals, Inc.
Manhattan Pharmaceuticals, Inc., a development-stage pharmaceutical company, acquires and develops proprietary prescription drugs for large, underserved patient populations. In view of the worldwide obesity epidemic, the company is developing OE, an orally administered novel therapeutic for the treatment of obesity. To meet the needs of other major, underserved medical markets while lowering development risks, Manhattan Pharmaceuticals is also developing PTH (1-34), a peptide believed to be a regulator of epidermal cell growth, for psoriasis, and Propofol Lingual Spray, a convenient, proprietary lingual spray formulation of propofol, the world's best-selling general anesthetic, as a sedative-hypnotic for use during diagnostic and therapeutic procedures. (http://www.manhattanpharma.com)
Note Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful preclinical development thereof, the completion and results of clinical trials, including clinical trials involving oleoyl-estrone, the FDA review process and other governmental regulation, our pharmaceutical collaborator's ability to successfully develop and commercialize drug candidates, issues relating to drug formulation and manufacturing, competition from other pharmaceutical companies, product pricing and third party reimbursement, and other factors described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-KSB for the year ended December 31, 2005. The Company assumes no obligation to update these statements, except as required by law.