ANN ARBOR, Mich., March 23, 2009 (GLOBE NEWSWIRE) -- Aastrom Biosciences, Inc. (NasdaqCM:ASTM - News), a leading developer of autologous adult stem cell treatments for severe chronic cardiovascular diseases, announced that the Company received Issuer Alert #2009-002 from The Nasdaq Stock Market LLC (``NASDAQ''). The Issuer Alert states that, given the continued extraordinary market conditions, NASDAQ has further suspended enforcement of the rules requiring a minimum $1.00 per share closing bid price and a minimum market value of publicly held shares until Monday, July 20, 2009. As a result of NASDAQ further extending the suspension and the balance of 60 days remaining on Aastrom's pending compliance period at the time of the initial suspension, Aastrom now has until September 18, 2009 to regain compliance with the $1.00 minimum closing bid price rule in order to remain listed on the Nasdaq Capital Market.
