American Stock Exchange Accepts Callisto Pharamceuticals' Plan of Compliance and Extension to Regain Compliance with Standards

NEW YORK, Aug. 29 Callisto Pharmaceuticals, Inc.(Amex: KAL; FWB: CA4), a developer of new drug treatments in the fight againstcancer and gastrointestinal disorders and diseases, today announced that thestaff of the American Stock Exchange ("AMEX") has reviewed the Company's planof compliance to meet the AMEX's continued listing standards and will continuethe Company's listing while the Company seeks to regain compliance withSections 1003 (a)(i) and 1003 (a)(ii) during the period ending April 3, 2008.As previously announced, on October 3, 2006 the Company received notice fromthe AMEX staff indicating that the Company was below certain of the Exchange'scontinued listing standards due to guidelines set forth in sections1003(a)(iv) and Section 1003(a)(i) of the AMEX Company Guide. The Companywas further advised on June 18, 2007 that it was not in compliance withSection 1003 (a)(ii). Based upon a review of publicly available information,the AMEX staff has determined that the Company has resolved the continuedlisting deficiency with respect to Section 1003 (a)(iv). The Company will besubject to periodic review by the AMEX Staff during the plan period. Failureto make progress consistent with the plan or to regain compliance with thecontinued listing standards by the end of the extension periods could resultin the Company being delisted from the AMEX.

About Callisto Pharmaceuticals, Inc.

Callisto is a biopharmaceutical company focused on the development of newdrugs to treat various forms of cancer and gastrointestinal diseases.Callisto's drug candidates in development currently include anti-cancer agentsin clinical development, in addition to drugs in pre-clinical development forother significant health care markets, including gastrointestinal disorders.One of the Company's lead drug candidates, Atiprimod is presently in a PhaseII clinical trial in advanced carcinoid cancer patients, and in a Phase I/IIahuman clinical trial in relapsed or refractory multiple myeloma patients.Another anti-cancer drug, L-Annamycin, is being developed as a treatment forforms of relapsed or refractory acute leukemia, a currently incurable bloodcancer. L-Annamycin is currently in a Phase I clinical trial in adult relapsedor refractory acute lymphocytic leukemia, and in a Phase I clinical trial inchildren and young adults with refractory or relapsed acute lymphocyticleukemia or acute myelogenous leukemia. L- Annamycin, a member of theanthracycline family of proven anti-cancer drugs, has a novel therapeuticprofile, including potential activity against multi- drug resistant tumors andsignificantly reduced cardiotoxicity, or damage to the heart, compared tocurrently available drug alternatives. Callisto also has a proprietary drugGuanilib in preclinical development for gastro- intestinal disorders. Callistohas exclusive worldwide licenses from AnorMED Inc. and M.D. Anderson CancerCenter to develop, manufacture, use and sell Atiprimod and L-Annamycin,respectively. Callisto is also listed on the Frankfurt Stock Exchange underthe ticker symbol CA4. More information is available athttp://www.callistopharma.com.

Forward-Looking Statements

Certain statements made in this press release are forward-looking. Suchstatements are indicated by words such as "expect," "should," "anticipate" andsimilar words indicating uncertainty in facts and figures. Although Callistobelieves that the expectations reflected in such forward-looking statementsare reasonable, it can give no assurance that such expectations reflected insuch forward-looking statements will prove to be correct. As discussed in theCallisto Pharmaceuticals Annual Report on Form 10-K for the year endedDecember 31, 2006, and other periodic reports, as filed with the Securitiesand Exchange Commission, actual results could differ materially from thoseprojected in the forward-looking statements as a result of the following

Latest Press Release on General News

World IBS Day - April 19th: Raising Awareness for Everyone with IBS

Debunking myths about Irritable Bowel Syndrome TORONTO , April 18, 2024 /PRNewswire/ -- IBS is a chronic gastrointestinal disorder with symptoms like abdominal pain, bloating,...

Important step taken on the Canada Disability Benefit in Budget 2024, but funding falls short

More work must be done to lift Canadians with disabilities out of poverty TORONTO , April 17, 2024 /CNW/ - The federal government has taken an important step on the Canada Di...

Hydrinity Accelerated Skin Science Introduces MicroFusion Technology and Expands Facial Skincare Line with PRELUDE Facial Treatment Cleanser and HYDRI-C Vitamin C Moisturizer

The Next Generation Technology with the Power to Transform Skin MONROE, La. , April 15, 2024 /PRNewswire/ -- Hydrinity Accelerated Skin Science announced today the launch of t...

A 2017 Hyundai Elantra and 760,000 kilometres of life-saving blood donation deliveries

Mr. Tim German's 2017 Hyundai Elantra a.k.a. "Dark Angel," was bought new from Steele Hyundai Halifax and now has more than 760,000 kilometres on the odometer. With his Elantra, Mr....

Philips Respironics Reaches Agreement with US Government on a Consent Decree Creating a Clear Path Forward

April 10, 2024 Philips confirms that further to communicating the main terms of the Philips Respironics consent decree on January 29, 2024, Philips’ subsidiaries Philips Holding USA ...