AnPac Bio (NASDAQ: ANPC), a biotechnology company focused on early cancer screening and detection, today announced that The Nasdaq Stock Market LLC has determined that it has regained compliance with the requirements to remain listed on The Nasdaq Capital Market, as required by a hearing panel’s decision dated May 4, 2022, subject to a one-year mandatory monitoring by the panel of the company’s ongoing compliance. On May 31, 2022, AnPac Bio filed a Form 6-K with the SEC, including unaudited financial statements, and referencing the receipt of proceeds from the sale of the company’s ordinary shares to certain investors in May 2022. On an adjusted basis, the company’s pro forma balance sheet reported stockholders’ equity of $7,442,000, as of May 31, 2022. In addition, AnPac Bio represented in the filing that it complies with the minimum $2.5 million stockholders’ equity required for continued listing on The Nasdaq Capital Market as of the report date. Accordingly, the company complied with the terms of the panel’s May 4 decision.
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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”), bio-chemical, immunological, and genomics tests. According to a report by Frost & Sullivan, AnPac Bio ranked first globally in multi-cancer 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 over 20 different cancer types with high sensitivity and specificity. For more information about the company, visit www.AnPacBio.com.
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