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ThermoGenesis Receives Notice Related to Nasdaq Minimum Closing Bid Price Rule
Date:9/21/2009

RANCHO CORDOVA, Calif., Sept. 21 /PRNewswire-FirstCall/ -- ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products for processing and storing adult stem cells, said today it had received a letter dated September 16, 2009, indicating the Company had become non-compliant with the Nasdaq Capital Markets' minimum bid pricing requirement under rule 5550(a)(2) as the Company's closing bid price for the past 30 days had failed to meet the minimum bid of $1.00 per share.

In accordance with Nasdaq listing rule 5810(c)(3)(A), the Company has a compliance period of 180 days, or until March 15, 2010, to regain compliance by having a closing bid price of $1.00 or more for a minimum of ten consecutive business days. If this compliance is not met within the 180-day period, ThermoGenesis will receive written notification that its securities are subject to delisting. The Company may appeal the delisting determination to Nasdaq's Listing Qualifications Panel and may be eligible for an additional 180-day compliance period if it meets the Nasdaq Capital Market listing standards, other than the minimum closing bid price requirement.

About ThermoGenesis Corp.

ThermoGenesis Corp. (www.thermogenesis.com) is a leader in developing and manufacturing automated blood processing systems and disposable products that enable the manufacture, preservation and delivery of cell and tissue therapy products. These products include:

  • The BioArchive(R) System, an automated cryogenic device, is used by cord blood stem cell banks in more than 25 countries for cryopreserving and archiving cord blood stem cell units for transplant.
  • AXP
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SOURCE ThermoGenesis Corp.
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