CENTOGENE Announces Receipt of Nasdaq Notice of Delisting and Intention to Request a Hearing
February 28 2024 - 6:30AM
Centogene N.V. (Nasdaq: CNTG) (the “Company”), the essential life
science partner for data-driven answers in rare and
neurodegenerative diseases, today announced that the Company
received a staff determination letter (the “Letter”) on Feb. 27,
2024, from the Listing Qualifications Department of The Nasdaq
Stock Market LLC (“Nasdaq”) notifying the Company of the
determination of the Nasdaq staff (the “Staff”) to delist the
Company’s securities from The Nasdaq Global Market due to
non-compliance with the minimum USD $15 million Market Value of
Publicly Held Shares (“MVPHS”) requirement as set forth in Nasdaq
Listing Rule 5450(b)(2)(C). The Staff Determination has no
immediate effect and will not immediately result in the suspension
of trading or delisting of the Company’s securities.
The Letter stated that unless the Company timely requests a
hearing before a Hearings Panel (the “Panel”), the Company would be
subject to delisting. Accordingly, the Company intends to timely
request a hearing before the Panel. The hearing request will
automatically stay any suspension or delisting action pending the
hearing and the expiration of any additional extension period
granted by the Panel following the hearing.
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
800,000 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 285 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 and 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, the possibility that no strategic alternatives or trading
market will be available to CENTOGENE, 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 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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