Centogene N.V. (Nasdaq: CNTG) (“Centogene”, “we”, or the
“Company”), the essential life science partner for data-driven
answers in rare and neurodegenerative diseases, today announced
that it received a notification letter dated April 24, 2023, from
the Nasdaq Stock Market LLC Listing Qualifications Department,
indicating that the Company was not in compliance with the minimum
bid price requirement set forth in Rule 5450(a)(1) of the Nasdaq
Listing Rules since the closing bid price for the Company's common
shares listed on Nasdaq was below US$1.00 for 30 consecutive
business days (from March 10 through April 21, 2023). Nasdaq Rule
5450(a)(1) requires the shares to maintain a minimum bid price of
US$1.00 per share, and Nasdaq Rule 5810(c)(3)(A) provides that
failure to meet such a requirement exists when the bid price of the
shares is below US$1.00 for a period of 30 consecutive business
days. The Nasdaq notification letter does not impact the Company’s
listing on the Nasdaq Global Market at this time.
In accordance with Listing Rule 5810(c)(3)(A) of the Nasdaq
Listing Rules, the Company has a period of 180 calendar days from
the date of notification, or until October 23, 2023, to regain
compliance with the minimum bid price requirement. If at any time
during the 180-calendar day period, the bid price of the shares
closes at or above US$1.00 per share for a minimum of 10
consecutive business days, Nasdaq will provide written notification
that the Company has achieved compliance with the minimum bid price
requirement and will consider such deficiency matter closed. In the
event that the Company does not regain compliance by October
23, 2023, subject to the determination by the staff of Nasdaq, it
may be eligible for an additional 180 calendar days compliance
period if it meets the continued listing requirements for market
value of publicly held shares and all other initial listing
standards, with the exception of bid price requirement, of the
Nasdaq Capital Market, and provides written notice to Nasdaq of its
intention to cure the deficiency.
The Company intends to actively monitor the bid price for its
common shares and will evaluate all available options to resolve
the deficiency and regain compliance with Nasdaq Rule
5450(a)(1).
About CENTOGENE
CENTOGENE’s mission is to provide data-driven, life-changing
answers to patients, physicians, and pharma companies for rare and
neurodegenerative diseases. We integrate multiomic technologies
with the CENTOGENE Biodatabank – providing dimensional analysis to
guide the next generation of precision medicine. Our unique
approach enables rapid and reliable diagnosis for patients,
supports a more precise physician understanding of disease states,
and accelerates and de-risks targeted pharma drug discovery,
development, and commercialization.
Since our founding in 2006, CENTOGENE has been offering rapid
and reliable diagnosis – building a network of approximately 30,000
active physicians. Our ISO, CAP, and CLIA certified multiomic
reference laboratories in Germany utilize Phenomic, Genomic,
Transcriptomic, Epigenomic, Proteomic, and Metabolomic datasets.
This data is captured in our CENTOGENE Biodatabank, with nearly
700,000 patients represented from over 120 highly diverse
countries, over 70% of whom are of non-European descent. To date,
the CENTOGENE Biodatabank has contributed to generating novel
insights for more than 260 peer-reviewed publications.
By translating our data and expertise into tangible insights, we
have supported over 50 collaborations with pharma partners.
Together, we accelerate and de-risk drug discovery, development,
and commercialization in target & drug screening, clinical
development, market access and expansion, as well as offering
CENTOGENE Biodata Licenses and Insight Reports to enable a world
healed of all rare and neurodegenerative diseases.
To discover more about our products, pipeline, and
patient-driven purpose, visit www.centogene.com and follow us on
LinkedIn.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the U.S. federal securities laws. Statements
contained herein that are not clearly historical in nature are
forward-looking, and the words “anticipate,” “believe,”
“continues,” “expect,” “estimate,” “intend,” “project,” and similar
expressions and future or conditional verbs such as “will,”
“would,” “should,” “could,” “might,” “can,” and “may,” are
generally intended to identify forward-looking statements. Such
forward-looking statements involve known and unknown risks,
uncertainties, and other important factors that may cause
CENTOGENE’s actual results, performance, or achievements to be
materially different from any future results, performance, or
achievements expressed or implied by the forward- looking
statements. Such risks and uncertainties include, among others,
negative economic and geopolitical conditions and instability and
volatility in the worldwide financial markets, possible changes in
current and proposed legislation, regulations and governmental
policies, pressures from increasing competition and consolidation
in our industry, the expense and uncertainty of regulatory
approval, including from the U.S. Food and Drug Administration, our
reliance on third parties and collaboration partners, including our
ability to manage growth, execute our business strategy and enter
into new client relationships, our dependency on the rare disease
industry, our ability to manage international expansion, our
reliance on key personnel, our reliance on intellectual property
protection, fluctuations of our operating results due to the effect
of exchange rates, our ability to streamline cash usage, our
continued ongoing compliance with covenants linked to financial
instruments, our requirement for additional financing, or other
factors. For further information on the risks and uncertainties
that could cause actual results to differ from those expressed in
these forward-looking statements, as well as risks relating to
CENTOGENE’s business in general, see CENTOGENE’s risk factors set
forth in CENTOGENE’s Form 20-F filed on March 31, 2022, with the
Securities and Exchange Commission (the “SEC”) and subsequent
filings with the SEC. Any forward-looking statements contained in
this press release speak only as of the date hereof, and
CENTOGENE’s specifically disclaims any obligation to update any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
Contact:
CENTOGENE
Ben Legg Corporate
Communications Press@centogene.com
Lennart StreibelInvestor RelationsIR@centogene.com
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