Aastrom Biosciences, once in danger of being deslisted from the Nasdaq, has regained compliance with the stock exchange’s $1 minimum share price requirement.
In December, the stem cell company was granted an extension until March 31 from being delisted. The company said its stock would have to trade above $1 for 10 consecutive days before that date, or it would face delisting.
Aastrom’s share price rose slightly in early trading Friday to $1.50. It has closed above $1 on every trading day since Feb. 18, when the company completed a 1-for-8 reverse split that was designed to keep Aastrom in compliance with Nasdaq’s $1 rule.
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The company is in the midst of two clinical trials, one for the repair of vascular cells and the other for cardiac regeneration.