Biopure ( BPUR) has filed a registration statement with the Securities and Exchange Commission for the issuance of 4 million shares of stock through a corporate benefit plan.

The registration statement was filed April 9 with a proposed maximum offering price of $1.56 a share. The registration statement, known as a Form S-8, provides an expedited way to register securities for employee benefits plans. The S-8 allows companies to refer to existing financial documents without having to produce a separate prospectus.

The Biopure stock issuance and sale was approved by shareholders at the Cambridge, Mass., company's annual meeting last week. The registration statement relates to stock options, which a company spokesman noted Tuesday "are not part of our near-term financing efforts."

Biopure is developing a blood substitute called Hemopure that is under review by the Food and Drug Administration. Biopure is trying to raise additional funds because it expects to run out of money in September. It needs more money to help it conduct more tests on -- and answer more questions about -- the blood substitute in order to meet FDA requirements. The company, which has about $15 million in cash, says it needs to raise another $7 million to remain in business through year-end.
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