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Burning Rock Receives Nasdaq Delisting Warning

NEW YORK – Burning Rock Biotech said Thursday that it was notified by the Nasdaq on Dec. 29 that the closing bid price for its American Depositary Shares failed to reach the required $1.00 minimum for the previous 30 consecutive business days.

According to Nasdaq listing rules, the company has 180 calendar days, or until June 26, to regain compliance with the minimum bid price requirement. To do so, the firm must maintain a closing bid price for its ADS’s of at least $1.00 for a minimum of 10 consecutive business days.

In the event that Burning Rock does not regain compliance by the June deadline, it could be eligible for an additional 180-day compliance period. According to the company, the notification has not affected its business operations and the firm plans to monitor its ADS bid price and "take all reasonable measures" to regain compliance.