T2 Biosystems Regains Compliance with Nasdaq Listing Requirements
01 Novembro 2023 - 10:00AM
T2 Biosystems, Inc. (NASDAQ:TTOO) (the “Company”), a leader in the
rapid detection of sepsis-causing pathogens and antibiotic
resistance genes, today announced that on October 31, 2023 it
received written notice from the Nasdaq Listing Qualifications
Staff of the Nasdaq Stock Market LLC (“Nasdaq”) stating that the
Company regained compliance with the minimum bid price requirement
(the “Minimum Bid Price Requirement”), as set forth in Nasdaq
Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital
Market.
The Company had previously been notified by the
Nasdaq on March 20, 2023 that it was not in compliance
with the Minimum Bid Price Requirement because its common stock had
failed to maintain a minimum bid price of $1.00 for 30
consecutive business days. In order to regain compliance with the
Minimum Bid Price Requirement, the Company was required to maintain
a minimum closing bid price of $1.00 or more for at least
10 consecutive trading days, which was achieved on October 26,
2023 when the Company’s closing bid price was $5.61.
Nasdaq has informed the Company that it will be
subject to a Mandatory Panel Monitor for a period of one year. If,
within that one-year monitoring period, the Company fails to comply
with the Minimum Bid Price, the Company will not be permitted
additional time to regain compliance with the Minimum Bid Price
Requirement. However, the Company will have an opportunity to
request a new hearing with the Nasdaq Listing Qualifications
Hearing Panel prior to the Company’s securities being delisted from
Nasdaq.
As previously reported, T2 Biosystems received
written notice from the Nasdaq on August 8, 2023 informing the
Company that it had regained compliance with the market value of
listed securities (“MVLS”) requirement, as set forth in Nasdaq
Listing Rule 5450(b) for continued listing on the Nasdaq Capital
Market. This requirement was met on August 7, 2023, the tenth
consecutive trading day when the MVLS was at least $35 million.
About T2 BiosystemsT2
Biosystems, a leader in the rapid detection of sepsis-causing
pathogens and antibiotic resistance genes, is dedicated to
improving patient care and reducing the cost of care by helping
clinicians effectively treat patients faster than ever before. T2
Biosystems’ products include the T2Dx® Instrument, the T2Bacteria®
Panel, the T2Candida® Panel, the T2Resistance® Panel, and the
T2SARS-CoV-2™ Panel and are powered by the proprietary T2 Magnetic
Resonance (T2MR®) technology. T2 Biosystems has an active pipeline
of future products, including the T2Biothreat™ Panel, the Candida
auris test, and T2Lyme™ Panel, as well as next-generation products
for the detection of bacterial and fungal pathogens and associated
antimicrobial resistance markers. For more information, please
visit www.t2biosystems.com.
Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
All statements contained in this press release that do not relate
to matters of historical fact should be considered forward-looking
statements, including, without limitation, statements about the
Company’s ability to maintain compliance with the listing
requirements of the Nasdaq Capital Market, as well as statements
that include the words “expect,” “intend,” “plan,” “believe,”
“project,” “forecast,” “estimate,” “may,” “should,” “anticipate,”
and similar statements of a future or forward looking nature. These
forward-looking statements are based on management’s current
expectations. These statements are neither promises nor guarantees,
but involve known and unknown risks, uncertainties and other
important factors that may cause actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements, including, but not limited to, (i) any
inability to (a) realize anticipated benefits from commitments,
contracts or products; (b) successfully execute strategic
priorities; (c) bring products to market; (d) expand product usage
or adoption; (e) obtain customer testimonials; (f) accurately
predict growth assumptions; (g) realize anticipated revenues; (h)
incur expected levels of operating expenses; or (i) increase the
number of high-risk patients at customer facilities; (ii) failure
of early data to predict eventual outcomes; (iii) failure to make
or obtain anticipated FDA filings or clearances within expected
time frames or at all; or (iv) the factors discussed under Item 1A.
“Risk Factors” in the company’s Annual Report on Form 10-K for the
year ended December 31, 2022, filed with the U.S. Securities and
Exchange Commission, or SEC, on March 31, 2023, and other filings
the company makes with the SEC from time to time. These and other
important factors could cause actual results to differ materially
from those indicated by the forward-looking statements made in this
press release. Any such forward-looking statements represent
management’s estimates as of the date of this press release. While
the company may elect to update such forward-looking statements at
some point in the future, unless required by law, it disclaims any
obligation to do so, even if subsequent events cause its views to
change. Thus, no one should assume that the Company’s silence over
time means that actual events are bearing out as expressed or
implied in such forward-looking statements. These forward-looking
statements should not be relied upon as representing the company’s
views as of any date subsequent to the date of this press
release.
Investor Contact:Philip Trip
Taylor, Gilmartin Groupir@T2Biosystems.com415-937-5406
T2 Biosystems (NASDAQ:TTOO)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
T2 Biosystems (NASDAQ:TTOO)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024