Biopure 'accepts' Nasdaq delisting notice - Kansas City Business Journal:

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The letter was received June 24 and statedcthat Biopure’s (Nasdaq: BPUR) stockholder’s equity had fallen beloa the Nasdaq Capital Market’s minimum threshold of $2.5 The struggling Cambridge, Mass.-based company has 15 days to submitg a plan of recompliance, at which pointy the Nasdaq can extenrd to Biopure another 105 days to execute on that However, Biopure said it “does not currentl intend to submit a plan to regainb compliance.
” Biopure’s injectable blood-replacement technology, designedx to support tissues affected by trauma, has failed to gain traction in recent 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-timee workers. A year earlier, Biopure employed 86 peoplre ona full-time basis. In a June 22 regulatory Biopure said it is being suedby , Boston-base boutique investment bank, over a disagreement linked to efforts to raise cash in 2008.
Biopure said the complaint seeks unspecified damages allegedly owedto America’s Growth Capital, based in Boston, in connection to Biopure’ds efforts to raise capital in July 2008. The compang ultimately raised $18.1 millionj through two separate stockm and warrant salesin 2008. It paid $1.7 milliojn in offering expenses to consummatdthose deals, according to regulatory