ANN ARBOR, Mich., July 14, 2009 (GLOBE NEWSWIRE) -- Aastrom Biosciences, Inc. (Nasdaq:ASTM), a leading developer of autologous adult stem cell treatments for severe chronic cardiovascular diseases, announced that the Company received Issuer Alert #2009-004 from The Nasdaq Stock Market LLC (“NASDAQ”). The Issuer Alert states that NASDAQ is continuing the temporary suspension of the rules requiring a minimum $1.00 per share closing bid price and a minimum market value of publicly held shares for approximately two additional weeks, until Friday, July 31, 2009. As a result of NASDAQ’s continued 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 October 1, 2009 to regain compliance with the $1.00 minimum closing bid price rule in order to remain listed on the Nasdaq Capital Market. The Company can regain compliance by achieving a $1.00 closing bid price for a minimum of 10 consecutive trading days.
