Centogene faces delisting from Nasdaq over stock price

CAMBRIDGE, Mass. – Centgene NV (NASDAQ:CNTG), a life sciences company specializing in rare and neurodegenerative diseases, today disclosed that it has received a notice from the Nasdaq Stock Market regarding non-compliance with the exchange’s minimum bid price requirements. Did. The Nasdaq Listing Qualification Department notified St. Gene that its common stock closed below the minimum bid price of US$1.00 for 30 consecutive business days from February 12, 2024 to March 26, 2024.

Under Nasdaq Listing Rule 5450(a)(1), companies must maintain a minimum bid price of $1.00 per share. Centogene has 180 days, until September 23, 2024, to restore compliance. The company can achieve this if its stock closes at or above USD 1.00 per his share for at least 10 consecutive business days within this period.

Centogene has indicated that it intends to actively monitor its stock bid price and consider all available options to address deficiencies and regain compliance with Nasdaq’s requirements. The company remains focused on providing data-driven answers to rare and neurodegenerative diseases through the integration of multi-omics technologies and biodatabanks. This approach facilitated rapid and reliable diagnosis, improved physicians’ understanding of disease states, and supported drug discovery and development.

Since its founding in 2006, Centogene has built a network of approximately 30,000 practicing physicians, and its multi-omics reference laboratory in Germany is ISO, CAP and CLIA certified. The company’s biodata bank contains data from more than 800,000 of his patients in more than 120 countries, including many patients of non-European descent. Centogene’s contributions to more than 285 peer-reviewed publications and his more than 50 collaborations with pharmaceutical partners highlight its role in advancing precision medicine.

Investment Pro Insights

Centogene NV (NASDAQ:CNTG) is dealing with NASDAQ compliance violations due to its stock price, so it’s important for investors to understand the financial health and market trends associated with the company. Centogene has a market capitalization of $19.51 Million, which makes it a small-cap player in the Life Sciences industry. The company’s revenue growth was impressive over the past twelve months as of Q2 2023, jumping 2763.24%. This number may indicate a significant development or breakthrough in the company’s business.

InvestingPro’s tip highlights that Centogene is currently operating with a high amount of debt. This is an important factor for investors to consider, especially if the company is rapidly burning through cash. Additionally, analysts do not expect the company to be profitable this year, which is a minus $1.59 from the company’s trailing 12-month reported earnings per share (EPS) as of Q2 2023. matches.

Another important metric to note at InvestingPro Data is the company’s price-to-book ratio of -1.12. This valuation metric, especially when negative, can suggest that the market lacks confidence in the company’s future growth or asset valuation. Furthermore, the recent performance of Centogene stock has declined significantly, with 3-month total return of -39.32%. This trend likely reflects the market’s reaction to the company’s financial condition and outlook.

For readers who want to learn more about Centogene’s financials and strategic positioning, additional InvestingPro Tips are available that can provide more nuanced insight into the company’s performance and market movements. These tips can be accessed through a platform that provides comprehensive analysis to investors.Use coupon code pro news 24 Get an extra 10% off your annual or biennial Pro and Pro+ subscriptions and get access to a total of 7 InvestingPro tips about Centogene to help you make more informed investment decisions.

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