Nucryst Pharmaceuticals Corporation announced unaudited condensed consolidated earnings results for the third quarter nine months ended September 30, 2009. For the quarter, the company reported net income of $0.5 million, or $0.03 per basic and diluted share, on revenues of $6.1 million. This compares to a net loss of $0.1 million, or $0.00 per basic and diluted share, on revenues of $5.3 million in the third quarter of 2008. Income from operations was $0.96 million compared to loss from operations of $0.64 million for the same period a year ago. Pre-tax income was $0.49 million compared to pre-tax loss of $0.05 million for the same period a year ago. For the nine months, the company reported net loss of $0.99 million or $0.05 per basic and diluted share on revenue of $15.17 million compared to net loss of $3.97 million or $0.22 per basic and diluted share on revenue of $15.15 million for the same period a year ago. Loss from operations was $0.31 million compared to $5.17 million for the same period a year ago. Pre-tax Loss was $0.99 million compared to $3.96 million for the same period a year ago.

Nucryst Pharmaceuticals Corporation, Special/Extraordinary Shareholders Meeting, Dec 21, 2009 Location: Calgary, Alberta, Canada.

On September 15, 2009, Nucryst Pharmaceuticals Corporation received a deficiency notice from the NASDAQ Stock Market stating that it no longer complies with NASDAQ Listing Rule 5550(a)(2) because, for the previous 30 consecutive business days, the bid price of its common shares had closed below the minimum requirement of $1 per share. The notice also indicated that in accordance with Listing Rule 5810(c)(3)(A) the Company has until March 15, 2010 to regain compliance, which requires a closing bid price of the Company’s common stock at or above $1 per share for a minimum of 10 consecutive business days. In the event the Company does not regain compliance within this period, NASDAQ will issue a written notification that the Company’s shares are subject to delisting. If the Company is not deemed in compliance prior to March 15, 2010, but demonstrates that it meets all applicable standards for initial listing on The NASDAQ Capital Market (except the bid price requirement) on such date, it will be afforded an additional 180 day compliance period. The notice has no effect on the listing of the Company’s shares at this time. The Company is currently evaluating its alternatives to resolve the listing deficiency.