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Bionovo Announces 2010 Highlights and Year-End Financial Results
Date:3/15/2011

ref="http://bionovo.com/investors/events">http://bionovo.com/investors/events. A replay of the call will be available by dialing 1-888-632-8973 or 1-585-295-6791 (replay code: 71929604#) through March 18, 2011 or via audio webcast at http://bionovo.com/investors/events beginning on March 16, 2011.

Nasdaq Notice The Company also announced today that, on March 14, 2011, the company received a letter from Nasdaq stating that, for the last 30 consecutive business days, the bid price of its common stock has closed below the minimum $1.00 per share requirement for continued listing on the Nasdaq Capital Market. The letter further stated that the company has been provided a period of 180 calendar days, or until September 12, 2011, to regain compliance. If, at anytime before September 12, 2011, the bid price of the common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide written notification that compliance has been regained, and this matter will be closed.

In the event the Company does not regain compliance with the Rule within the 180 day period, the Company may be eligible for additional time. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split if necessary. If the Company meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar days, or until March 14, 2012.  

For further information on the relevant Nasdaq rules, please consult Nasdaq Listing Rules 5550(a)(2) – bid price, 5810(c)(3)(A) – compliance period, 5810(b) – pu
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SOURCE Bionovo, Inc.
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