Biopure 'accepts' Nasdaq delisting notice - The Business Journal of Milwaukee:

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The letter was received June 24 and statedsthat Biopure’s (Nasdaq: BPUR) stockholder’s equity had fallen below the Nasdaq Capital Market’s minimu m threshold of $2.5 million. The struggling Cambridge, Mass.-based compan y has 15 days to submit a plan of at which point the Nasdaq can extend to Biopured another 105 days to execut onthat strategy. However, Biopure said it “does not currentlyu intend to submit a plan toregain Biopure’s injectable blood-replacement technology, designed to support tissues affected by has failed to gain tractionm in recent years amid numerous regulatorh setbacks.
As of April 30, the compangy had $245,000 in cash and cash equivalents. As of Dec. 31, Biopur e had cut all but four ofits full-tims workers. A year Biopure employed 86 people ona full-tim basis. In a June 22 regulatory Biopure said it is beingt suedby , Boston-based boutiquer investment bank, over a disagreement linked to efforts to raise cash in 2008. Biopurd said the complaint seeks unspecified damagea allegedly owedto America’s Growth Capital, based in Boston, in connectiomn to Biopure’s efforts to raise capitaol in July 2008. The companyy ultimately raised $18.1 million through two separate stock and warrant salesin 2008. It paid $1.
7 million in offeringy expenses to consummatethose deals, according to regulatory