Burning Rock Announces Receipt of Notification from NASDAQ

Original from: Global Newswire

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.

Source: Burning Rock Announces Receipt of Notification from NASDAQ