NEW YORK--(BUSINESS WIRE)--
Pluristem Therapeutics Inc. (NasdaqCM:PSTI)(DAX:PJT) today announced that on February 5, 2009, it had received a Nasdaq Staff Notification of Deficiency and Compliance Letter indicating that the Company had violated the shareholder approval rules under Nasdaq Marketplace Rule 4350(i)(1)(D)(ii) (the “Rule”) in connection with its sale during November and December of 2008 of units consisting of an aggregate of 1,662,500 common shares and warrants to acquire 1,662,500 common shares and an option to purchase additional units consisting of 886,667 shares and warrants to acquire 886,667
shares.
The Company regained compliance after the investors in such issuances agreed that no warrants or options to purchase additional units consisting of shares and warrants would be exercised until six months after the original agreement dates. As a result, the Nasdaq Staff determined that the Company has regained compliance with the Rule and that, with this press release, this matter is now closed.
About Pluristem
Pluristem Therapeutics Inc. is a bio-therapeutics company dedicated to the commercialization of unrelated donor-patient (allogeneic) cell therapy products for the treatment of several severe degenerative, ischemic and autoimmune disorders. The Company is developing a pipeline of products, stored ready-to-use, that are derived from human placenta, a non-controversial, non-embryonic, adult stem cell source.
Pluristem has offices in the USA with research and manufacturing facilities in Israel.
For more information visit our website at www.pluristem.com, the content of which is not part of this press release.
