AnPac Bio Regains Compliance with Nasdaq Continued Listing Requirement
SAN JOSE, Calif., March 05, 2021 (GLOBE NEWSWIRE) -- AnPac Bio-Medical Science Co., Ltd. (“AnPac Bio,” the “Company” or “we”) (ANPC), a biotechnology company with operations in China and the United
States focused on early cancer screening and detection, announced today that on March 4, 2021, the Company received a letter from the Nasdaq Stock Market, Inc. (“Nasdaq”), stating that for the last
12 consecutive business days, from February 16 to March 3, 2021, the market value of the Company’s listed securities had been $50,000,000 or greater. Accordingly, Nasdaq determined that the Company
has regained compliance with Nasdaq Listing Rule 5450(b)(2)(A) (the “Rule”), and this matter has now been closed by Nasdaq.
As previously disclosed on October 9, 2020, the Company received a written notification from Nasdaq dated October 6, 2020 stating that for the last 30 consecutive business days prior to the date of the letter, the market value of the Company’s listed securities was below US$50,000,000, the minimum Market Value of Listed Securities required for the Nasdaq Global Market, as set forth in the Rule. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), Nasdaq provided the Company with 180 calendar days, or until April 5, 2021, to regain compliance with the Rule.
Dr. Chris Yu, CEO and Chairman of AnPac Bio, commented: “We are pleased to see that the Company’s market value of listed securities once again exceeds the requirement for continued listing on Nasdaq. Regaining compliance allows continued access to the capital markets for the Company and liquidity for our shareholders.”
About AnPac Bio
AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 30, 2020. With two certified clinical laboratories in China and one CLIA and CAP accredited clinical laboratory and one CLIA registered clinical laboratory in the United States, AnPac Bio performs a suite of cancer screening and detection tests, including CDA (Cancer Differentiation Analysis), bio-chemical, immunological, and genomics tests. According to Frost & Sullivan, AnPac Bio ranked third worldwide among companies offering next-generation early cancer screening and detection technologies in terms of the number of clinical samples for cancer screening and detection, based on approximately 41,700 clinical samples as of December 31, 2019. AnPac Bio’s CDA technology platform has been shown in retrospective validation studies to be able to detect the risk of over 20 different cancer types with high sensitivity and specificity.