REG - Burning Rock Biotech - BNR Announces Receipt of Notification from NASDAQ

Burning Rock BiotechAnnouncement

04/01/2024 07:00

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RNS Number : 6457Y  Burning Rock Biotech Limited  04 January 2024

Burning Rock Announces Receipt of Notification from NASDAQ

 

GUANGZHOU, China, January 4, 2024-Burning Rock Biotech Limited (NASDAQ: BNR
and LSE: BNR, the "Company" or "Burning Rock"), a company focused on the
application of next generation sequencing (NGS) technology in the field of
precision oncology, today announced that it has received written notification
from the staff of the Listing Qualifications Department of the Nasdaq Stock
Market LLC ("NASDAQ") dated December 29, 2023, indicating that for the last 30
consecutive business days, the closing bid price for the Company's American
depositary shares (the "ADSs") was below the minimum bid price of US$1.00 per
share requirement set forth in NASDAQ Listing Rule 5450(a)(1). The NASDAQ
notification letter has no current effect on the listing or trading of the
Company's securities on NASDAQ.

 

Pursuant to the NASDAQ Listing Rules 5810(c)(3)(A), the Company has a
compliance period of 180 calendar days, or until June 26, 2024, to regain
compliance with NASDAQ's minimum bid price requirement. If at any time during
the compliance period the Company's closing bid price is at least US$1.00 for
a minimum of 10 consecutive business days, Nasdaq will provide the Company
with a written confirmation of compliance and the matter will be closed.

 

In the event the Company does not regain compliance by June 26, 2024, subject
to the determination by the staff of NASDAQ, the Company may be eligible for
an additional 180-day compliance period.

 

The Company's business operations are not affected by the NASDAQ notification
letter. The Company intends to monitor the closing bid price of its ADSs
between now and June 26, 2024 and will take all reasonable measures in order
to regain compliance with the NASDAQ minimum bid price requirement.

 

About Burning Rock

Burning Rock Biotech Limited (NASDAQ: BNR and LSE: BNR), whose mission is to
Guard Life via Science, focuses on the application of next generation
sequencing (NGS) technology in the field of precision oncology. Its business
consists of i) NGS-based therapy selection testing for late-stage cancer
patients, and ii) NGS-based cancer early detection, which has moved beyond
proof-of-concept R&D into the clinical validation stage.

For more information about Burning Rock, please visit: www.brbiotech.com
(https://www.globenewswire.com/Tracker?data=oKHzdzt5kGL2zhfVeWLHG4RSCd0Qq3w7WMdcV1zEwpNpJxNTAAS6ngZAI3P9e0D7buq-KTNsAu8r4Xe7JWAAkQ==)
.

 

Safe Harbor Statement

This press release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes," "estimates,"
"target," "confident" and similar statements. Burning Rock may also make
written or oral forward-looking statements in its periodic reports to the SEC,
in its annual report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or employees
to third parties. Statements that are not historical facts, including
statements about Burning Rock's beliefs and expectations, are forward-looking
statements. Such statements are based upon management's current expectations
and current market and operating conditions, and relate to events that involve
known or unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond Burning Rock's control.
Forward-looking statements involve risks, uncertainties and other factors that
could cause actual results to differ materially from those contained in any
such statements. All information provided in this press release is as of the
date of this press release, and Burning Rock does not undertake any obligation
to update any forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.

Contact: IR@brbiotech.com

 

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