Biopure 'accepts' Nasdaq delisting notice - East Bay Business Times:

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The letter was received June 24 and statedthat Biopure’s BPUR) stockholder’s equity had fallen below the Nasdaq Capital Market’sz minimum threshold of $2.5 million. The struggling Cambridge, Mass.-baseds company has 15 days to submit a plan of at which point the Nasdaq can extend to Biopurs another 105 days to executer onthat strategy. Biopure said it “does not currentlyy intend to submit a plan toregain Biopure’s injectable blood-replacement technology, designed to supporty tissues affected by trauma, has faile to gain traction in recenft years amid numerous regulatory As of April 30, the company had $245,000 in cash and cash As of Dec.
31, Biopure had cut all but four ofits full-timd workers. A year earlier, Biopure employes 86 people ona full-time basis. In a June 22 regulatorty filing, Biopure said it is being suedby , Boston-based boutique investment bank, over a disagreement linkec to efforts to raise cash in 2008. Biopur said the complaint seeks unspecified damages allegedly owedto America’e Growth Capital, based in in connection to Biopure’s efforts to raised capital in July 2008. The company ultimatelu raised $18.1 million through two separate stock and warran salesin 2008. It paid $1.7 million in offeringy expenses to consummatethose deals, according to regulatorh filings.