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 August 30, 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 July 19, 2023
to August 29, 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 February 26, 2024)
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.
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 February 26, 2024.
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,” “plan,” “is
designed to,” “potential,” “predict,” “objective” and similar
expressions and future or conditional verbs such as “will,”
“would,” “should,” “could,” “might,” “can,” and “may,” or the
negative of these 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
Melissa HallCorporate Communications Press@centogene.com
Lennart StreibelInvestor Relations IR@centogene.com
Centogene NV (NASDAQ:CNTG)
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