Biopure Corp. is slated to be de-listed from the NASDAQ exchange after its stockholders’ equity fell below the exchange’s $2.5 million minimum threshold.
The Cambridge-based blood substitute maker has 15 days to submit a plan to correct the problem, but said it has no plans to submit such a plan.
It’s the latest bad news for Biopure, which said last week it will go out of business by the end of July unless it finds a buyer.
A few days later the company said it was prepping for a public stock sale in an effort to help two major stakeholders before it’s forced under. Biopure also sold its manufacturing plant site in Pennsylvania in an alst-ditch effort to reasie some cash.
The company’s run has been rocky almost from the start, between the Food & Drug Administration balking at authorizing tests of its flagship blood substitute product, Hemopure, and some shady dealings by former executives.
