AnPac Bio-Medical Sciences Announces Receipt of Staff Delisting Determination from Nasdaq; Intends to Request A Hearing

Jan 20, 2023

New York, NY, Jan. 20, 2023 (GLOBE NEWSWIRE) -- AnPac Bio-Medical Science Co., Ltd. (the “Company”) (Nasdaq: ANPC), a biotechnology company with operations in the United States and China focused on early cancer screening and detection announced that, on January 13, 2023, it received a Staff determination letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company of the Staff’s determination to delist the Company’s securities from The Nasdaq Capital Market due to the Company’s failure to comply with the minimum $2.5 million stockholders’ equity requirement for continued listing on The Nasdaq Capital Market (the “Equity Rule”), unless the Company timely requests a hearing before a Nasdaq Hearings Panel (the “Panel”). Accordingly, the Company intends to timely request a hearing. The hearing request will automatically stay any delisting or suspension action relating to the Company’s American Depositary Shares through the hearing and the expiration of any additional extension period granted by the Panel following the hearing.

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