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Henry McCusker
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Analyst, Journalist and Publisher ... Henry enters his twelve (12) year at Scimitar's RegMedicine Investors which aggregates, curates and creates bottom-line content weeding of regenerative medicine and cell therapy news to provide a customized, vetted selection of relevant and high-impact... More
My company:
Scimitar Equity-Regenerative Medicine Investors
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Scimitar Equity Blog
  • Aastrom (ASTM) Notice Of Delisting 0 comments
    May 13, 2013 5:58 PM

    Notice of Failure to Satisfy a Continued Listing Rule or Standard

    On 5/9/13, Aastrom Biosciences received a notification letter from NASDAQ 's Listing Qualifications Department advising that for the past 30 consecutive business days, the bid price for the common stock has closed below the minimum $1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1)

    In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Notice also stated that ASTM would be provided 180 calendar days, or until 11/5/13, to regain compliance with the Minimum Bid Price Rule. To do so, the bid price of the Company's common stock must close at or above $1.00 per share for a minimum of ten consecutive business days prior to that date.

    The Bottom Line: Filed in an 8-k versus a press release? It couldn't have come at a <worse> time when so many issues are in play - i.e. their pending $25 million fund raising initiative(s). ASTM closed DOWN to -$0.60 on 166,997 share volume.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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