Biopure Receives Extension of Time to Regain NASDAQ Listing Compliance
28 10월 2008 - 9:30PM
PR Newswire (US)
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 Oxyglobin
since its launch. Statements in this release that are not strictly
historical are forward-looking statements, including any statements
implying that the Company will be able to achieve the minimum bid
price of $1.00 to avoid delisting from NASDAQ. Actual results and
their timing may differ materially from those projected in these
forward-looking statements due to risks and uncertainties. These
risks include, without limitation, uncertainties regarding the
company's financial position, including its limited cash resources
and need to raise additional capital to pursue its business,
unexpected costs and expenses, delays and adverse determinations by
regulatory authorities, unanticipated problems with the product's
commercial use, whether or not product related, and with product
distributors, sales agents or other third parties, delays in
clinical trials, and the other factors identified under the heading
"Risk Factors" in the Company's quarterly report on Form 10-Q filed
on June 16, 2008, as amended on June 18, 2008, which can be
accessed in the EDGAR database at the U.S. Securities and Exchange
Commission's (SEC) website, http://www.sec.gov/. The company
undertakes no obligation to release publicly the results of any
revisions to these forward-looking statements to reflect events or
circumstances arising after the date hereof. A full discussion of
the company's operations and financial condition can be found in
the company's filings with the SEC. Contact: Tiana Gorham Biopure
Corporation (617) 234-6826 DATASOURCE: Biopure Corporation CONTACT:
Tiana Gorham of Biopure Corporation, +1-617-234-6826, Web Site:
http://www.sec.gov/
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