NEW YORK – German molecular diagnostics and rare disease company Centogene will be delisted from the Nasdaq stock exchange for failing to maintain a minimum market value of publicly held shares of $15 million.
The delisting was announced in a Securities and Exchange Commission filing posted Tuesday morning and goes into effect at market open on Oct. 25.
Centogene received a delisting notice last year and then again in February of this year. In response, it appointed a special committee to explore potential strategic alternatives and appealed the decision the following month.
The Listing Qualifications Hearings Panel that heard that appeal allowed the company to remain listed subject to certain milestones. In August, however, the panel determined that the Rostock, Germany-based company failed to meet these milestones and suspended its securities on Aug. 8. Centogene did not appeal the delisting decision, which became final on Sept. 20.