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Biostar Pharmaceuticals, Inc. Regains Compliance with NASDAQ's Minimum Bid Price Requirement

04/20/2012 | 08:16pm US/Eastern

Biostar Pharmaceuticals, Inc. Regains Compliance with NASDAQ's Minimum Bid Price Requirement

XIANYANG, China, April 20, 2012/PRNewswire-Asia/ -- Biostar Pharmaceuticals, Inc. (NASDAQ GM: BSPM) ("Biostar" or "the Company"), a PRC-based manufacturer and marketer of pharmaceutical and health supplement products in Chinafor a variety of diseases and conditions, today announced that it has received written notification from the Nasdaq Listing Qualifications department that it has regained compliance with the minimum bid price requirement of $1.00per share for continued listing of its common stock on The NASDAQ Global Market set forth in Nasdaq Listing Rule 5450(a)(1), as its common shares achieved a closing bid price of $1.00or more for 10 consecutive business days prior to the compliance deadline of April 23, 2012and this matter is now closed.

About Biostar Pharmaceuticals, Inc.

Biostar Pharmaceuticals, Inc., through its wholly owned subsidiary and controlled affiliate in China, develops, manufactures and markets pharmaceutical and health supplement products for a variety of diseases and conditions. The Company's most popular product is its Xin Aoxing Oleanolic Acid Capsule, an over-the-counter ("OTC") medicine for chronic hepatitis B, a disease affecting approximately 10% of the Chinese population. For more information please visit: http://www.biostarpharmaceuticals.com

Safe Harbor relating to the Forward-Looking Statements

Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The company uses words and phrases such as "guidance," "forecasted," "projects," "is expected," "remain confident," "will" and similar expressions to identify forward-looking statements in this press release, including forward-looking statements. Undue reliance should not be placed on forward-looking information. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Biostar and described in the forward-looking information contained in this news release. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the Company's ability to maintain its ongoing compliance with the Nasdaq continued listing requirements, success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, its ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, its ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts and legal restrictions on raising capital or acquiring companies outside China. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our most recent Annual Report on Form 10-K for the year ended December 31, 2011, and other subsequent filings. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by or on our behalf.

For more information contact:

BioStar Pharmaceuticals, Inc. 

The Equity Group, Inc.

Zack Pan, CFO 

Lena Cati

Tel: 405-996-8829 

Tel: 212 836-9611

Email: zpan@aoxing-group.com

Email: lcati@equityny.com

SOURCE Biostar Pharmaceuticals, Inc.

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