Biopure Receives Extension of Time to Regain NASDAQ Listing ... ( CAMBRIDGE Mass. Oct. 28 /- Biopur...)

Biopure Receives Extension of Time to Regain NASDAQ Listing Compliance

Date:10/28/2008

CAMBRIDGE, Mass., Oct. 28 /PRNewswire-FirstCall/ -- Biopure Corporation (Nasdaq: BPUR) announced today that it has received notice from NASDAQ stating that the Company has until March 16, 2009, to regain compliance with Marketplace Rule 4310(c)(4), requiring a minimum bid price of $1.00 for continued listing. The deadline would have been December 8, 2008, but NASDAQ suspended enforcement of the minimum bid price requirement because of turmoil in the marketplace, thereby extending the Company's time in which to gain compliance.

Currently, the Company meets all other required inclusion criteria for the NASDAQ Capital Market. If, at any time before March 16, 2009, 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.

Biopure Corporation

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 Oxyglob
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