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AnPac Bio Receives Nasdaq Delisting Notice

NEW YORK – AnPac Bio-Medical Science announced late on Friday that it has received a letter from the Nasdaq notifying the company of its imminent delisting from the exchange.

The company has failed to regain compliance with Nasdaq's listing requirements, including the minimum $50 million market value of listed securities requirement. It was notified that it had fallen short of the requirement in September and had six months — until March 23 — to regain compliance. 

The Shanghai-based firm has also not met the minimum standard requirements of having $10 million in stockholders' equity, $50 million in total assets, and $50 million in total revenue, it said in a statement. 

Unless AnPac Bio requests an appeal, the company's American Depositary Shares will be suspended at the opening of the market on April 4. The firm said it is applying to transfer to the Nasdaq Capital Market and is appealing the decision to request additional time to meet the requirements to transfer, AnPac Bio said. 

AnPac Bio has also failed to meet two other Nasdaq requirements. It announced in January that it is not in compliance with Nasdaq's minimum market value of publicly held shares (MVPHS) and said earlier this month that it has not met the exchange's minimum bid price requirement of $1.00 per share. The company has until July 18 to meet the MVPHS requirement and until Sept. 5 to meet the minimum bid price requirement.