OSIRIS THERAPEUTICS,INC. (NASDAQ:OSIR) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued
Listing Ruleor Standard; Transfer of Listing.

As previously disclosed, the Company participated in a hearing
before a NASDAQ Hearings Panel (the Hearings Panel) in connection
with the Companys late periodic filings, and, on December1, 2016,
the Company received a letter from NASDAQs Office of General
Counsel stating that the Hearings Panel granted the Companys
request for additional time to file its delinquent reports with
the Securities and Exchange Commission (SEC) and regain
compliance with NASDAQs continued listing requirements until
March10, 2017.

The Company was not able to file all of its delinquent reports
with the SEC and regain compliance with NASDAQs continued listing
requirements by the deadline. On March10, 2017, the Company
received a letter from NASDAQ stating that trading of the
Companys common stock will be suspended at the opening of
business on Tuesday, March14, 2017. The letter also states that
NASDAQ will file a Form25 with the SEC to formally delist the
Companys securities from NASDAQ, to become effective ten days
after filing.

The Company currently anticipates that its common stock will be
quoted on the Pink OTC Markets Inc. system, referred to as the
pink sheets. However, there can be no assurance that a market
maker will apply to quote the Companys common stock or that the
Companys common stock will become eligible for the pink sheets.

The Company is working diligently to complete its previously
announced restatement of prior period financial statements,
transition to a new independent registered public accounting firm
and conclude its 2015 and 2016 audits so that it will be in a
position to bring its SEC filings up to date. The Company intends
to seek to relist its common stock on NASDAQ or another national
securities exchange as soon as possible once it becomes current
in its reporting obligations. There can be no assurance regarding
the timing or ultimate outcome of this process or the ability of
the Company to relist its common stock on NASDAQ or another
national securities exchange.

On March10, 2017, the Company issued a press release regarding
the foregoing matters. A copy of the press release is filed
herewith as Exhibit99.1 to this Form8-K and is incorporated
herein by reference.

Forward-Looking Statements

Certain matters discussed in this Current Report on Form8-K
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995.
Theseforward-looking statements are based on managements current
beliefs, assumptions and expectations regarding future events,
which in turn are based on information currently available to
management.Such forward-looking statements include statements
regarding the timing of the timing of the suspension and
delisting of the Companys common stock, the timing of the filing
of the Companys delinquent periodic reports with the SEC or the
timing and ability of the Company to relist its common stock on
NASDAQ or another national securities exchange. We caution you
not to place undue reliance on any such forward-looking
statements.Several factors could cause actual results to differ
materially from those expressed in or contemplated by the
forward-looking statements.Such factors include, but are not
limited to, the identification of additional errors in the
restatement process, changes in the scope or focus of the
accounting adjustments, the risk that additional information may
arise prior to the expected filing with the SEC of the restated
financial statements and the 2015 and 2016 financial statements
or subsequent events that would require us to make adjustments.
Other risk factors affecting the Company are discussed in detail
in the Companys filings with the SEC, including its Annual
Reports on Form10-K.We undertake no obligation to publicly update
or revise any forward-looking statement, whether as a result of
new information, future events or otherwise, except as required
by law.

Item 9.01. Financial Statements and
Exhibits

About OSIRIS THERAPEUTICS, INC. (NASDAQ:OSIR)

Osiris Therapeutics, Inc. is a cellular and regenerative medicine company. The Company is focused on researching, developing and marketing products in the wound, orthopedic, and sports medicine markets. The Company operates through Biosurgery business segment, which focuses on products for wound care, orthopedics, and sports medicine to harness the ability of cells and novel constructs to promote the body’s natural healing. The Company’s products include Grafix, Stravix, TruSkin, Cartiform and BIO4. The Company produces and distributes Grafix for acute and chronic wounds; Stravix for tendon repair; TruSkin for wound closure; Cartiform, a viable cartilage mesh for cartilage repair, and BIO4 for bone growth. The Company’s BioSmart cryopreservation process retains the native characteristics and inherent functionality of tissue. Its BioSmart process includes preservation of the three dimensional (3D) matrix, endogenous growth factors, and tissue-resident cells.

OSIRIS THERAPEUTICS, INC. (NASDAQ:OSIR) Recent Trading Information

OSIRIS THERAPEUTICS, INC. (NASDAQ:OSIR) closed its last trading session down -0.23 at 5.20 with 130,752 shares trading hands.