AnPac Bio granted continued, conditional listing by Nasdaq

AnPac Bio has been notified by the Nasdaq Hearings Panel of the Listing Qualifications Department of Nasdaq that the company’s request for continued listing on The Capital Market has been granted, subject to the requirement that the company demonstrate on or before July 12, its compliance with the shareholder equity requirement. The Panel advised that July 12 represents the full extent of the Panel’s discretion to grant continued listing while the company is non-compliant. The Panel noted that the company indicated that while it has already cured the shareholder equity deficiency, it plans to continue engaging in fund-raising activities throughout the year to maintain its shareholder equity value. The Panel also noted that the company outlined its plan to reduce expenses and acquire a cash generating business in order to improve its financial position. The Panel indicated that it believes the company has articulated a reasonable plan and should be afforded time to implement this new strategy.