OXiGENE Complies With NASDAQ Listing Requirements

OXiGENE OXGN today announced the Company has regained compliance with the minimum Market Value of Listed Securities requirement for continued listing on The NASDAQ Capital Market, as set forth in NASDAQ Listing Rule 5450(b)(2)(A). Consequently, the Company's securities will continue to be listed on The NASDAQ Stock Market (NASDAQ). The June 1, 2011 letter from NASDAQ stated that the Company's MVLS has been at least $35 million for more than 10 consecutive business days (from May 10, 2011 through May 31, 2011). NASDAQ previously notified the Company on March 10, 2011 that the Company had regained compliance with the Minimum Bid Price Requirement of at least $1.00 per share. Accordingly, the NASDAQ Hearing Panel (Panel) determined on June 1, 2011 that the Company has regained compliance with all of the Panel's conditions to continued listing on NASDAQ, and that the Panel is closing its inquiry into this matter.