ANN ARBOR, Mich. – Aastrom Biosciences (NSDQ:ASTMD), once in danger of being de-listed from the NASDAQ exchange, regained compliance with the exchange’s $1 minimum-share-price requirement.
In December, the stem cell company was granted an extension until March 31 from being delisted. The company said its stock would have to trade above $1 for 10 consecutive days before that date or it would face de-listing.
Aastrom’s share price rose slightly in early trading March 5 to $1.50. It’s closed above $1 on every trading day since Feb. 18, when the company completed a 1-for-8 reverse split designed to keep Aastrom in compliance with NASDAQ’s $1 rule.
The company is in the midst of two clinical trials, one for the repair of vascular cells and the other for cardiac regeneration.