NitroMed (NTMD) Announces Resignation of CFO; Receives Compliance Notification

March 28, 2008 3:11 PM EDT

NitroMed, Inc. (NASDAQ: NTMD) reported that James G. Ham has resigned as NitroMed’s Vice President, Chief Financial Officer, Treasurer and Secretary, effective April 11, 2008. Mr. Ham is leaving to become chief financial officer at a privately held biotechnology company.

NitroMed’s board of directors appointed Kenneth M. Bate, the company’s President and Chief Executive Officer, to also serve as interim Chief Financial Officer. Mr. Bate previously served as NitroMed’s Chief Financial Officer, Chief Operating Officer, Treasurer and Secretary from March 2006 until his appointment as NitroMed’s President and Chief Executive Officer in January 2007.

NitroMed also said today that on March 27, 2008 The NASDAQ Stock Market’s Listing Qualifications Department notified the company that the bid price of NitroMed’s common stock closed at $1.00 or greater for at least 10 consecutive business days. Accordingly, NitroMed regained compliance with The Nasdaq Stock Market Marketplace Rule 4450(a)(5), which is generally known as the minimum bid price rule.[SM]

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