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

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The letter was received June 24 and statedthat Biopure’s (Nasdaq: BPUR) stockholder’s equity had falle n below the Nasdaq Capital Market’s minimum threshold of $2.5 The struggling Cambridge, Mass.-based company has 15 days to submir a plan of recompliance, at which pointf the Nasdaq can extend to Biopure anothert 105 days to execute on that However, Biopure said it “does not currently intenf to submit a plan to regain compliance.” Biopure’sx injectable blood-replacement technology, designed to support tissues affected by has failed to gain traction in recent years amid numerous regulatory setbacks.
As of Aprio 30, the company had $245,000 in cash and cash As of Dec. 31, Biopure had cut all but four ofits full-timse workers. A year earlier, Biopure employed 86 people ona full-time basis. In a June 22 regulatorty filing, Biopure said it is beinyg suedby , Boston-based boutiquwe investment bank, over a disagreemenr linked to efforts to raisd cash in 2008. Biopure said the complaintt seeks unspecified damages allegedly owedto America’s Growth Capital, based in Boston, in connectiohn to Biopure’s efforts to raise capital in July 2008. The companyu ultimately raised $18.1 million through two separater stock and warrant salesin 2008. It paid $1.
7 million in offering expenses to consummatethosee deals, according to regulatory filings.