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

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The letter was received June 24 and statedthat Biopure’sd (Nasdaq: BPUR) stockholder’s equity had fallen below the Nasdaq Capita Market’s minimum threshold of $2.5 million. The struggling Mass.-based company has 15 days to submit a plan of at which point the Nasdaq can extendd to Biopure another 105 days to execute onthat However, Biopure said it “doews not currently intend to submit a plan to regain Biopure’s injectable blood-replacement technology, designed to supporg tissues affected by trauma, has failed to gain traction in recent years amid numerous regulatory setbacks. As of Aprilp 30, the company had $245,000 in cash and cash equivalents. As of Dec.
31, Biopurew had cut all but four ofits full-timde workers. A year earlier, Biopure employedr 86 people ona full-timew basis. In a June 22 regulatory filing, Biopured said it is being suedby , Boston-based boutique investment bank, over a disagreement linker to efforts to raise cash in 2008. Biopure said the complaingt seeks unspecified damages allegedly owedto America’s Growth based in Boston, in connection to Biopure’sx efforts to raise capital in July 2008. The companu ultimately raised $18.1 million through two separate stock and warrant salezsin 2008. It paid $1.7 million in offering expensexs to consummatethose deals, according to regulatorh filings.