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Biopure Receives Notices About Nasdaq Listing Compliance
Date:3/31/2009

CAMBRIDGE, Mass., March 31 /PRNewswire-FirstCall/ -- Biopure Corporation (Nasdaq: BPUR) announced today that it has received several notices from The Nasdaq Stock Market. By letter dated March 24, 2009, Nasdaq advised that, as the company had not yet filed its Form 10-Q for the fiscal quarter ended January 31, 2009, it was out of compliance with the Nasdaq Marketplace Rules. The company filed the report and received a letter dated March 26, 2009, stating that the matter was closed.

NASDAQ also notified the company that it has suspended enforcement of its minimum bid price and market value requirements for continued listing, thereby extending the company's time in which to regain compliance. Enforcement of these rules is scheduled to resume on July 20, 2009. The company estimates, that it now has until September 12, 2009, to regain compliance with the $1.00 minimum bid price requirement. If at any time before that date 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 should be provided written notification that it complies with the Marketplace Rules.

Biopure Corporation

Biopure Corporation develop 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. On November 21, 2008, the company announced that it had suspended manufacturing and terminated most of its work force for financial reasons. The company may not be able to continue as a going concern. Using its limited resources, the company is supporting the U.S. Navy's government-funded efforts to develop a potential out-of-hospital trau
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SOURCE Biopure Corporation
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