Ann Arbor-based Aastrom Biosciences Inc. said it is in danger of being removed from the Nasdaq Stock Exchange, Crain's Detroit Business reported. The company said its stock price had remained below the listing threshold of $1.

Aastrom produces tissue cell repair and stem cell therapies.

Crain's reported that Aastrom will seek a hearing by Oct. 13 to request an extension. The company's stock has been trading below $1 per share for many months, but it has avoided delisting because of extensions and a temporary change in Nasdaq policy during the recession.

In early-morning trading today, the stock was down slightly from its close Wednesday of about 38 cents per share.