WATERTOWN, Mass.--(BUSINESS WIRE)--Acusphere, Inc. (NASDAQ: ACUS) announced today that on July 14, 2008, it received a letter from The NASDAQ Stock Market LLC indicating that the Company had not regained compliance with NASDAQ’s minimum bid price requirement for continued listing of $1.00 per share, as set forth in Marketplace Rule 4450(a)(5). As a result, Acusphere’s common stock would be subject to delisting from The NASDAQ Global Market unless the Company requests a hearing before the NASDAQ Listing Qualifications Panel. Acusphere intends to request a hearing before the Panel, which will stay the delisting of the Company’s common stock pending the issuance of a decision by the Panel following the hearing. The Company expects that the hearing will be scheduled for late August or early September 2008. At the hearing, the Company will request continued listing on either The NASDAQ Global Market or The NASDAQ Capital Market, based upon its plan for demonstrating compliance with the applicable listing requirements. Pursuant to the NASDAQ Marketplace Rules, the Panel has the authority to grant the Company up to an additional 180 days from July 14, 2008 (i.e. January 9, 2009) to implement its plan of compliance, which could include a reverse stock split if the price has not exceeded $1/share for 10 consecutive business days by that time. As a result, the Company sees no need for a reverse stock split prior to the hearing. There can be no assurance that the Panel will grant the Company’s request for continued listing on The NASDAQ Stock Market. In the event the Panel denies the Company’s request for continued listing, the Company’s common stock may become eligible for quotation and trading on the OTC Bulletin Board.
