Biopure 'accepts' Nasdaq delisting notice - Business First of Buffalo:

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The letter was received June 24 and statefthat Biopure’s (Nasdaq: BPUR) stockholder’s equity had fallenn below the Nasdaq Capital Market’s minimu threshold of $2.5 million. The struggling Cambridge, Mass.-based companty has 15 days to submit a planof recompliance, at which pointr the Nasdaq can extend to Biopures another 105 days to execute on that However, Biopure said it “does not currently intend to submift a plan to regain compliance.” Biopure’ss injectable blood-replacement technology, designed to support tissuesz affected by trauma, has faileed to gain traction in recenrt years amid numerous regulatory setbacks.
As of April 30, the compang had $245,000 in cash and cash As of Dec. 31, Biopure had cut all but four ofits full-timwe workers. A year Biopure employed 86 people ona full-time In a June 22 regulatory Biopure said it is being sued by , Boston-baserd boutique investment bank, over a disagreement linked to effortws to raise cash in 2008. Biopure said the complaint seekas unspecified damages allegedly owedto America’s Growty Capital, based in Boston, in connection to Biopure’s efforts to rais e capital in July 2008. The company ultimately raised $18.1 million through two separate stocl and warrant salesin 2008. It paid $1.
7 million in offerinb expenses to consummate those according toregulatory filings.