AnPac Bio (NASDAQ: ANPC) is a biotechnology company with operations in the United States and China focused on early cancer screening and detection. The company today announced its receipt of notification from the Nasdaq Stock Market LLC that ANPC’s American Depositary Shares are now in compliance with the maintenance of the minimum market value of publicly held shares (“MVPHS”) of $1,000,000 as a result of the transfer of the company’s securities from the Nasdaq Global Market to the Nasdaq Capital Market. While both are a part of the Nasdaq Stock Market, the Nasdaq Capital Market has lower listing requirements than those of the Nasdaq Global Market. The resolution of the MVPHS requirement does not address the company’s separate requirement to maintain a minimum bid price of $1 per share. AnPac Bio is currently in a grace period for the $1 bid price requirement that runs through Sept. 5, 2022. Companies listed on the Nasdaq Capital Market may be eligible for a second 180-day grace period for bid price provided they meet certain standards, including a demonstration that stockholders’ equity is at least $5 million.
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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 150 issued patents as of Sept. 30, 2021. 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 CDA (Cancer Differentiation Analysis), 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.
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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