Calypte Biomedical Corporation Holds Annual Meeting of Shareholders; Obtains Shareholder Approval for All Agenda Items
Calypte Biomedical Corporation Holds Annual Meeting of Shareholders; Obtains Shareholder Approval for All Agenda Items
BW5223 MAY 21,2003 6:01 PACIFIC 09:01 EASTERN
( BW)(CA-CALYPTE-BIOMEDICAL)(CALY) Calypte Biomedical CorporationHolds Annual Meeting of Shareholders; Obtains Shareholder Approval forAll Agenda Items
Business Editors/Health/Medical Writers
ALAMEDA, Calif.--(BUSINESS WIRE)--May 21, 2003--Calypte BiomedicalCorporation (OTCBB:CALY), the developer and marketer of the only twoFDA-approved HIV-1 antibody tests that can be used on urine samples,as well as an FDA-approved serum HIV-1 antibody Western blotsupplemental test, announces that it received shareholder approval forproposals submitted to shareholders at its Annual Meeting ofShareholders held May 20, 2003.
Specifically, shareholders approved an amendment to the Company´sAmended and Restated Certificate of Incorporation to implement areverse stock split of the outstanding shares of the company´s commonstock at a ratio of 1:30. The company´s authorized shares of commonand preferred stock will not be affected by the reverse split which isexpected to be effective May 27, 2003.
In addition to approval of the reverse split of outstanding sharesof common stock, shareholders also approved proposals to increase thenumber of common shares reserved for issuance under the company´s 2000Equity Incentive, 1995 Director Option, and 1995 Employee StockPurchase Plans.
"We are very pleased that all agenda items presented obtainedshareholder approval at our Annual Meeting," stated Anthony Cataldo,Calypte´s chairman. "We look forward to the continued support of ourshareholders."
About Calypte Biomedical:
Calypte Biomedical Corporation, headquartered in Alameda,California, is a public healthcare company dedicated to thedevelopment and commercialization of urine-based diagnostic productsand services for Human Immunodeficiency Virus Type 1 (HIV-1), sexuallytransmitted diseases and other infectious diseases. Calypte´s testsinclude the screening EIA and supplemental Western Blot tests, theonly two FDA-approved HIV-1 antibody tests that can be used on urinesamples. The company believes that accurate, non-invasive urine-basedtesting methods for HIV and other infectious diseases may makeimportant contributions to public health by helping to foster anenvironment in which testing may be done safely, economically, andpainlessly. Calypte markets its products in countries worldwidethrough international distributors and strategic partners. Currentproduct labeling, including specific product performance claims, canbe found at www.calypte.com.
Statements in this press release that are not historical facts areforward-looking statements, including statements regardingannouncements of financial results and presentations by the Company.Such statements reflect management´s current views, are based oncertain assumptions and involve risks and uncertainties. Actualresults, events, or performance may differ materially from the aboveforward-looking statements due to a number of important factors, andwill be dependent upon a variety of factors, including, but notlimited to, our ability to obtain additional financing that will allowus to continue our current and future operations and whether demandfor our product and testing service in domestic and internationalmarkets will continue to expand. The Company undertakes no obligationto publicly update these forward-looking statements to reflect eventsor circumstances that occur after the date hereof or to reflect anychange in the Company´s expectations with regard to theseforward-looking statements or the occurrence of unanticipated events.Factors that may impact the Company´s success are more fully disclosedin the Company´s most recent public filings with the U.S. Securitiesand Exchange Commission ("SEC"), including its annual report on Form10-K for the year ended December 31, 2002, and its subsequent filingswith the SEC.
--30--TM/la* CONTACT: Calypte Biomedical Corporation Richard Brounstein, 510/749-5100 email: rbrounstein@calypte.com or Sitrick & Company (Investors) Joe Bunning, 310/788-2850 email: joe_bunning@Sitrick.com KEYWORD: CALIFORNIA INDUSTRY KEYWORD: MEDICAL DEVICES PHARMACEUTICAL BIOTECHNOLOGYALTERNATIVE MEDICINE MEDICAL SOURCE: Calypte Biomedical Corporation
