ITEM 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On October 22, 2008 Biopure Corporation (the "Company") received notice from The Nasdaq Stock Market ("Nasdaq") indicating that the Company was granted an extension to regain compliance with Marketplace Rule 4310(c)(4), requiring a minimum bid price of $1.00 for continued listing. Currently, the Company meets all other required inclusion criteria for continued listing on the NASDAQ Capital Market. If, at any time before March 16, 2009, the closing bid price of the Company's common stock is $1.00 per share or more for a minimum of 10 consecutive business days, the Company should be provided written notification from Nasdaq that it complies with the Marketplace Rules for continued listing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description
99.1 Press Release issued by Biopure Corporation on October 28, 2008

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