AnPac Bio-Medical Science (NASDAQ: ANPC), a biotechnology company with operations in the United States and China focused on early cancer screening and detection, is able to continue to list its shares on the NASDAQ Capital Market. The company received the notification from Nasdaq Hearings Panel of the Listing Qualifications Department of the Nasdaq Stock Market LLC. The status is subject to ANPC demonstrating compliance with the $1 Bid Price listing rule by Nov. 23, 2022, as well as all other requirements for continued listing. AnPac has been working with the market since being notified earlier this year that the bid price of its listed security had closed at under $1 per share for the previous 30 consecutive business days, meaning the company did not comply with the $1 Bid Rule. The company was given time to comply with the rule; AnPac ultimately requested a hearing before the NASDAQ Hearings Panel to present its financial data and plan, including a share reverse split, to regain compliance with the $1 Bid Rule. The most recent decision was made after that hearing, which was held on Oct. 202, 2022. Based on that decision, AnPac will continue to be listed and its shares will continue to be traded on NASDAQ, pending a final written decision by the exchange’s hearings panel after Nov. 23, 2022.
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About AnPac Bio-Medical Science Co. Ltd.
AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 155 issued patents as of March 31, 2022. With two certified clinical laboratories in China and one CLIA- and CAP-accredited clinical laboratory in the United States, AnPac Bio performs a suite of cancer-screening and detection tests, including Cancer Differentiation Analysis (“CDA”), biochemical, immunological and genomics tests. According to a report by Frost & Sullivan, AnPac Bio ranked first globally in multicancer screening and detection-test sample volume, accumulative to January 2021. AnPac Bio’s CDA technology platform has been shown in retrospective validation studies to be able to detect the risk of more than 20 different cancer types with high sensitivity and specificity. For more information about the company, visit www.AnPacBio.com
NOTE TO INVESTORS: The latest news and updates relating to ANPC are available in the company’s newsroom at https://ibn.fm/ANPC
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