Biopure Receives Extension of Time to Regain NASDAQ Listing Compliance
31 12월 2008 - 7:00AM
PR Newswire (US)
CAMBRIDGE, Mass., Dec. 30 /PRNewswire-FirstCall/ -- Biopure
Corporation (NASDAQ:BPUR) announced today that it has received
notice from The NASDAQ Stock Market stating that NASDAQ has again
suspended enforcement of its minimum bid price and market value
requirements for continued listing, thereby extending the Company's
time in which to gain compliance. Enforcement of these rules is
scheduled to resume on Monday, April 20, 2009. The Company
estimates, based on the information received, that it now has until
June 15, 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
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. On
November 21, 2008, the Company announced that it had terminated
most of its work force for financial reasons. Using its limited
resources, the Company is developing Hemopure 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
more than 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 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 September 15,
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: Rob Skiba Biopure Corporation (617)
234-6500 DATASOURCE: Biopure Corporation CONTACT: Rob Skiba of
Biopure Corporation, +1-617-234-6500,
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