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TPTX: Board Approves Plan of Liquidation and Dissolution

Posted on: Mon, 01 Jun 2009 07:57:00 EDT

Symbols: TPTX

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Ridgeland, MS, JUN 01, 2009 (EventX/Knobias.com via COMTEX) --
TPTX | Quote | Chart | News | PowerRating -- By Fain Hughes, fhughes@knobias.com

TorreyPines Therapeutics, Inc. (TPTX) announced that its Board of Directors has determined, after consideration of potential strategic and financing alternatives, that it is in the best interests of the Company and its stockholders to liquidate the Company's assets and to dissolve the Company. The Company's Board of Directors has unanimously approved a Plan of Liquidation and Dissolution of the Company subject to stockholder approval. The Company intends to hold a special meeting of the stockholders to seek approval of the Plan of Dissolution and today it filed related proxy materials with the SEC.

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ABOUT KNOBIAS: Knobias is a premier financial information provider of trading and investing data covering all U.S. equities for investors and security professionals. Knobias is best described by its three major components: Real-time desktop applications providing quotes, charts, level 2, analysis etc.; Knobias RAiDAR providing thousands of real-time news stories, alerts and documents daily; Knobias fundamentals providing a comprehensive database of fundamental research information.

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