| Medwave Announces Receipt of Notice From
NASDAQ
ARDEN HILLS, MN – May 22, 2007 – Medwave,
Inc. (the “Company,” NASDAQ: MDWV) announced that, as
previously disclosed, due to the recent departure of its Chief Financial
Officer, the Company was unable to timely file its Form 10-Q for the
period ended March 31, 2007 (the “Form 10-Q”). As a result,
the Company received a NASDAQ Staff Determination letter because the
Company was not in compliance with Marketplace Rule 4310(c)(14), which
requires timely filing of periodic reports with NASDAQ for continued
listing. The non-compliance with Marketplace Rule 4310(c)(14) makes
the Company’s common stock subject to being delisted from The
NASDAQ Stock Market. The Company is currently working with its independent
public accountants to finalize the Form 10-Q before May 29, 2007 to
avoid delisting. If the Company is unable to meet this May 29, 2007
deadline, it may appeal any delisting determination.
About Medwave
Medwave develops, manufacturers and distributes sensor-based non-invasive
blood pressure solutions. Medwave trades on the NASDAQ capital market
under the symbol MDWV.
Cautionary Statements
Statements made in this release that are stated as expectations,
plans, anticipations, prospects or future estimates or which otherwise
look forward in time are considered “forward-looking statements”
and involve a variety of risks and uncertainties, known and unknown,
which are likely to affect the actual results. The following factors,
among others, as well as factors discussed in the Medwave’s
filings with the Securities and Exchange Commission, have affected
and, in the future, could affect Medwave’s actual results:
resistance to the acceptance of new blood pressure monitoring products;
the market acceptance of FusionTM, the Vasotrac® system and
other products of Medwave, particularly in light of the recent operational
difficulties with our now discontinued Primo hand-held monitor;
hospital budgeting cycles; the possibility of adverse or negative
results or commentary from clinical researchers or other users or
evaluators of Medwave’s products; Medwave’s success
in creating effective distribution channels for its products; Medwave’s
ability to scale up its manufacturing process; and delays in product
development or enhancement or regulatory approval. Consequently,
no forward-looking statement can be guaranteed and actual results
may vary materially.
You are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. All forward-looking
statements are qualified in their entirety by this cautionary statement
and Medwave undertakes no obligation to revise or update this news
release to reflect events or circumstances after the date hereof.
This caution is made under the safe harbor provisions of Section
21E of the Securities Exchange Act of 1934.
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