ANN ARBOR, Mich., June 18, 2008 (PRIME NEWSWIRE) -- Aastrom Biosciences, Inc. (Nasdaq:ASTM), a leading regenerative medicine company, today announced that on June 18, 2008 the Company received a notice from The Nasdaq Stock Market (Nasdaq) informing the Company, that pursuant to Nasdaq's previous deficiency letter of December 20, 2007, Aastrom had not regained compliance with Nasdaq Marketplace Rule 4310(c)(4) related to the minimum closing bid price of the Company's common shares by June 17, 2008. The notice stated that because Aastrom met all initial inclusion criteria for the Nasdaq Capital Market set forth in Marketplace Rule 4310(c) on June 17, 2008, except for the minimum closing bid price requirement, in accordance with Marketplace Rule 4310(c)(8)(D) Aastrom will now be provided an additional 180 calendar day compliance period, or until December 15, 2008, to regain compliance. At this time, this notification has no effect on the continued listing of Aastrom's common stock on the Nasdaq Capital Market.
