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1919

Aastrom Biosciences receives delisting notice
(AP) – 21 hours ago

ANN ARBOR, Mich. — Aastrom Biosciences Inc., which develops stem cell therapies, said Wednesday it received a notice saying it might be subject to delisting from the Nasdaq.

Aastrom Bioscience said the staff determination letter indicated the company is not in compliance with the $1 minimum closing bid price required for continued listing on the Nasdaq.

The company's stock is now subject to delisting on Tuesday, unless the company requests a hearing before a Nasdaq panel, which Aastrom said it plans to do.

At the hearing, Aastrom said it plans to request continued listing on the Nasdaq based on a plan to regain compliance with the minimum bid requirement.

The panel is permitted to grant Aastrom an additional 180 days from the Oct. 2 letter, or until March 31, to implement its plan of compliance.