CAMBRIDGE, Mass., June 12 /PRNewswire-FirstCall/ -- Biopure Corporation (Nasdaq: BPUR) announced today that The NASDAQ Stock Market has granted the Company an additional 180 days, or until December 8, 2008, to regain compliance with Marketplace Rule 4310(c)(4) requiring a minimum bid price of $1.00 for continued listing. Currently, the Company meets all other required inclusion criteria for the NASDAQ Capital Market. If, at any time before December 8, 2008, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Company will be provided written notification that it complies with the Marketplace Rule.
If compliance with the Marketplace Rule cannot be demonstrated by December 8, 2008, NASDAQ will issue a delisting notice to the Company.
Biopure Corporation develops, manufactures and markets pharmaceuticals,
called oxygen therapeutics, that are intravenously administered to deliver
oxygen to the body's tissues. Hemopure(R) [hemoglobin glutamer - 250
(bovine)], or HBOC-201, is approved for sale in South Africa for the
treatment of surgical patients who are acutely anemic. The company is
developing Hemopure for other indications and is supporting the U.S. Navy's
government-funded efforts to develop a potential out-of-hospital trauma
indication. Biopure's veterinary product Oxyglobin(R) [hemoglobin glutamer
- 200 (bovine)], or HBOC-301, the only oxygen therapeutic approved for
marketing by both the U.S. Food and Drug Administration and the European
Commission, is indicated for the treatment of anemia in dogs. Biopure has
sold approximately 200,000 units of Oxyglobin since its launch.
|SOURCE Biopure Corporation|
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