Centogene N.V. (Nasdaq: CNTG) (“we” or the “Company”), the
essential life science partner for data-driven answers in rare and
neurodegenerative diseases, today announced that it has received a
written notification (the "Notification Letter") from the Nasdaq
Stock Market LLC (“Nasdaq”) dated June 8, 2023, indicating that the
Company is not in compliance with the minimum Market Value of
Publicly Held Shares (“MVPHS”) set forth in the Nasdaq Rules for
continued listing on the Nasdaq Global Market. Nasdaq Listing Rule
5450(b)(3)(C) requires companies to maintain a minimum MVPHS of USD
15 million, and Listing Rule 5810(c)(3)(D) provides that a failure
to meet the MVPHS requirement exists if the deficiency continues
for a period of 30 consecutive business days. Based on the MVPHS of
the Company for the 30 consecutive business days from April 26,
2023 to June 7, 2023, the Company no longer meets the MVPHS minimum
requirement. This notification does not impact the listing and
trading of the Company’s securities at this time.
Pursuant to Nasdaq Listing Rule 5810(c)(3)(D), the Company has a
compliance period of 180 calendar days (or until December 5, 2023)
to regain compliance. If at any time during this compliance period
the Company’s MVPHS closes at USD 15 million or more for a minimum
of ten consecutive business days, Nasdaq will notify the Company
that it has achieved compliance with the MVPHS requirement, and the
MVPHS matter will be closed.
As previously announced, the Company also has a separate Nasdaq
Global Market deficiency in the requirement that it maintain a
minimum bid price of US$1.00 for its common shares listed on Nasdaq
("MBP"). The Company has until October 23, 2023 to regain
compliance with the MBP requirement.
In the event the Company does not regain compliance with Rule
5450(b)(3)(C) prior to the expiration of the compliance period, it
will receive written notification that its securities are subject
to delisting.
The Company's business operations are not affected by the
receipt of the Notification Letter. The Company intends to monitor
its market value between now and December 5, 2023.
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 over
750,000 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 275 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 and our
ability to continue as a going concern, 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 May 16, 2023, 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
Melissa Hall Corporate CommunicationsPress@centogene.com
Lennart StreibelInvestor RelationsIR@centogene.com
Centogene NV (NASDAQ:CNTG)
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