AnPac Bio-Medical Sciences Proclaims Receipt of Workers Delisting Willpower from Nasdaq; Intends to Attraction


AnPac Bio-Medical Science Co., Ltd.

PHILADELPHIA, Sept. 12, 2022 (GLOBE NEWSWIRE) — AnPac Bio-Medical Science Co., Ltd. (“AnPac Bio,” the “Firm” or “we”) (ANPC), a biotechnology firm with operations in the US and China centered on early most cancers screening and detection, introduced that on September 9, 2022, it acquired a Workers dedication letter (the “Letter”) from the Itemizing {Qualifications} Division of The Nasdaq Inventory Market LLC (“Nasdaq”) notifying the Firm of the Workers’s dedication to delist the Firm’s securities from The Nasdaq Capital Market as a result of Firm’s failure to regain compliance with the $1 per share bid worth requirement of Listed Securities required for continued itemizing as set forth in Itemizing Rule 5450(a)(1) (the “$1 Bid Rule”). The Letter states that, except the Firm requests an enchantment of the Letter, buying and selling of the Firm’s American Depositary Shares will probably be suspended on the opening of enterprise on September 20, 2022, and a Kind 25-NSE will probably be filed with the Securities and Change Fee (the “SEC”) to take away the Firm’s securities from itemizing and registration on the Nasdaq Inventory Market. The Firm has the choice to enchantment the delisting dedication and intends to take action.

On March 8, 2022, Nasdaq employees notified the Firm that the bid worth of its listed safety had closed at lower than $1 per share over the earlier 30 consecutive enterprise days, and, in consequence, didn’t adjust to $1 Bid Rule. In accordance with Itemizing Rule 5810(c)(3)(A), the Firm was offered 180 calendar days, or till September 5, 2022, to regain compliance with the $1 Bid Rule. Since then, the Firm has not regained compliance with the Rule, and Nasdaq employees has notified the Firm that it’s ineligible for a second 180 day interval as a result of the Firm has not demonstrated compliance with the minimal $5,000,000 Shareholders’ Fairness preliminary itemizing requirement for The Nasdaq Capital Market, which preliminary itemizing requirement applies to the Firm resulting from its switch from The Nasdaq World Market to The Nasdaq Capital Market, efficient Might 6, 2022.

The Firm intends to enchantment the Workers’s dedication to a Hearings Panel (the “Panel”). Such a request will enable the Firm’s American Depositary Shares to proceed to be traded (listed) pending the Panel’s resolution. On the listening to, the Firm intends to current a plan to realize compliance with Nasdaq itemizing necessities and request that the Panel enable the Firm further time to regain such compliance. There could be no assurance that the Panel will grant the Firm’s request for a suspension of the delisting or continued itemizing.

About AnPac Bio

AnPac Bio is a biotechnology firm centered on early most cancers screening and detection, with 155 issued patents as of March 31, 2022. With two licensed scientific laboratories in China and one CLIA and CAP accredited scientific laboratory in the US, AnPac Bio performs a collection of most cancers screening and detection exams, together with CDA (Most cancers Differentiation Evaluation), bio-chemical, immunological, and genomics exams. Based on a report by Frost & Sullivan, AnPac Bio ranked first globally in multi-cancer screening and detection check pattern quantity (accumulative to January 2021). AnPac Bio’s CDA know-how platform has been proven in retrospective validation research to have the ability to detect the chance of over 20 totally different most cancers varieties with excessive sensitivity and specificity.

For extra info, please go to: https://www.Anpacbio.com.

For investor and media inquiries, please contact: 

Firm:

Phil Case, Advertising and Investor Relations
Telephone: +1-267-810-6776 (US)
E-mail: phil_case@AnPacbio.com

Investor Relations:

Ascent Investor Relations LLC
Tina Xiao, President
Telephone: +1-917-609-0333 (US)
E-mail: tina.xiao@ascent-ir.com

Protected Harbor Assertion

This announcement incorporates forward-looking statements inside the that means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Change Act of 1934. These forward-looking statements are made below the “secure harbor” provisions of the Personal Securities Litigation Reform Act of 1995 and are referring to the Firm’s future monetary and working efficiency. The Firm has tried to determine forward-looking statements by terminologies together with “believes,” “estimates,” “anticipates,” “expects,” “plans,” “tasks,” “intends,” “potential,” “goal,” “intention,” “predict,” “outlook,” “search,” “objective” “goal,” “assume,” “ponder,” “proceed,” “positioned,” “forecast,” “possible,” “might,” “may,” “may,” “will,” “ought to,” “roughly” or different phrases that convey uncertainty of future occasions or outcomes to determine these forward-looking statements. These statements are primarily based on present expectations, assumptions and uncertainties involving judgments about, amongst different issues, future financial, aggressive and market situations and future enterprise choices, all of that are tough or not possible to foretell precisely and lots of of that are past the Firm’s management. These statements additionally contain identified and unknown dangers, uncertainties and different components that will trigger the Firm’s precise outcomes to be materially totally different from these expressed or implied by any forward-looking assertion. Identified and unknown dangers, uncertainties and different components embrace, however will not be restricted to, our skill to adjust to Nasdaq Itemizing Guidelines, the implementation of our enterprise mannequin and progress methods; developments and competitors within the most cancers screening and detection market; our expectations relating to demand for and market acceptance of our most cancers screening and detection exams and our skill to broaden our buyer base; our skill to acquire and keep mental property protections for our CDA know-how and our continued analysis and improvement to maintain tempo with know-how developments; our skill to acquire and keep regulatory approvals from the NMPA, the FDA and the related U.S. states and have our laboratories licensed or accredited by authorities together with the CLIA; our future enterprise improvement, monetary situation and outcomes of operations and our skill to acquire financing cost-effectively; potential adjustments of presidency laws; common financial and enterprise situations in China and elsewhere; our skill to rent and keep key personnel; our relationship with our main enterprise companions and prospects; and the period of the coronavirus outbreaks and their potential opposed affect on the financial situations and monetary markets and our enterprise and monetary efficiency, similar to ensuing from diminished industrial actions resulting from quarantines and journey restrictions instituted by China, the U.S. and lots of different nations world wide to comprise the unfold of the virus. Moreover, all forward-looking statements are topic to the “Danger Elements” detailed occasionally within the Firm’s most up-to-date Annual Report on Kind 20-F and different filings with the U.S. Securities and Change Fee. Due to these and different dangers, uncertainties and assumptions, undue reliance shouldn’t be positioned on these forward-looking statements. As well as, these statements converse solely as of the date of this press launch and, besides as could also be required by regulation, the Firm undertakes no obligation to revise or replace publicly any forward-looking statements for any motive.



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