NEW YORK – Centogene said on Wednesday afternoon that it was notified by the Nasdaq on June 8 that it no longer complies with the minimum market value of publicly held shares (MVPHS) for continued listing on the Nasdaq Global Market.
Under the listing rule, a company must maintain a minimum MVPHS of $15 million, a requirement that Centogene has not met for 30 consecutive business days, from April 26 to June 7, triggering the notification.
The Rostock, Germany-based company now has until Dec. 5 to regain compliance by having its MVPHS close at $15 million or more for at least 10 consecutive business days.
Centogene received a separate noncompliance notice from Nasdaq in April because the closing bid price of its common shares had fallen below the minimum of $1.00 for 30 consecutive business days. It has until Oct. 23 to regain compliance with that requirement by maintaining a closing bid price of at least $1.00 for 10 consecutive business days.
In early Thursday afternoon trading, Centogene's shares were down 4 percent at $.78.