Genetron Health Announces Receipt of Notification from Nasdaq
November 07 2022 - 6:00AM
Genetron Holdings Limited ("Genetron Health" or the "Company",
NASDAQ: GTH), a leading precision oncology platform company in
China that specializes in offering molecular profiling tests, early
cancer screening products and companion diagnostics development,
today announced that it has received written notification from the
staff of the Listing Qualifications Department of the Nasdaq Stock
Market LLC (“Nasdaq”) dated October 28, 2022, indicating that for
the last 30 consecutive business days, the closing bid price for
the Company’s American depositary shares (the “ADSs”) was below the
minimum bid price of US$1.00 per share requirement set forth in
Nasdaq Listing Rule 5450(a)(1). The Nasdaq notification letter has
no current effect on the listing or trading of the Company’s
securities on Nasdaq.
Pursuant to the Nasdaq Listing Rules
5810(c)(3)(A), the Company is provided with a compliance period of
180 calendar days, or until April 26, 2023, to regain compliance
under the Nasdaq Listing Rules. If at any time during the 180-day
compliance period, the closing bid price of the Company’s ADSs is
US$1.00 per share or higher for a minimum of ten consecutive
business days, Nasdaq will provide the Company written confirmation
of compliance and the matter will be closed.
In the event the Company does not regain
compliance by April 26, 2023, subject to the determination by the
staff of Nasdaq, the Company may be eligible for an additional
180-day compliance period.
The Company’s business operations are not
affected by the Nasdaq notification letter. The Company intends to
monitor the closing bid price of its ADSs between now and April 26,
2023 and will take all reasonable measures in order to regain
compliance with the Nasdaq minimum bid price requirement.
About Genetron Holdings
Limited
Genetron Holdings Limited ("Genetron Health" or
the "Company") (Nasdaq: GTH) is a leading precision oncology
platform company in China that specializes in cancer molecular
profiling and harnesses advanced technologies in molecular biology
and data science to transform cancer treatment. The Company has
developed a comprehensive oncology portfolio that covers the entire
spectrum of cancer management, addressing needs and challenges from
early screening, diagnosis and treatment recommendations, as well
as continuous disease monitoring and care. Genetron Health also
partners with global biopharmaceutical companies and offers
customized services and products. For more information, please
visit ir.genetronhealth.com.
Safe Harbor Statement
This press release contains forward-looking
statements made under the "safe harbor" provisions of Section 21E
of the Securities Exchange Act of 1934, as amended, and the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
“will,” “expects,” “anticipates,” “future,” “intends,” “plans,”
“believes,” “estimates” and similar statements. Genetron Health may
also make written or oral forward-looking statements in its
periodic reports to the SEC, in its annual report to shareholders,
in press releases and other written materials and in oral
statements made by its officers, directors or employees to third
parties. Statements that are not historical facts, including
statements about Genetron Health’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: impact of the COVID-19 pandemic, Genetron Health’s goal
and strategies; its future business development, financial
condition and results of operations; Genetron Health’s expectations
regarding demand for, and market acceptance of, its services; the
laws and regulations relating to Genetron Health’s industry; the
general economic and business conditions; and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in Genetron Health’s
filings with the SEC. All information provided in this announcement
and in the attachments is as of the date of this press release, and
Genetron Health does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
Investor Relations
ContactEmail: ir@genetronhealth.com
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