Centogene faces Nasdaq delisting over market value shortfall

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Centogene faces Nasdaq delisting over market value shortfall
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CAMBRIDGE, Mass. - Centogene N.V. ( NASDAQ :CNTG), a life sciences company specializing in rare and neurodegenerative diseases, has received notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC indicating potential delisting of the company's securities.

The notice, dated February 27, 2024, states that Centogene does not meet the minimum Market Value of Publicly Held Shares (MVPHS) requirement of $15 million as stipulated by Nasdaq's Listing Rule 5450(b)(2)(C).

The letter from Nasdaq does not have an immediate effect on the trading of Centogene's securities and does not lead to an immediate suspension or delisting. The company has announced its intention to request a hearing before a Hearings Panel, which will delay any suspension or delisting action until the hearing and any potential extension period thereafter.

Established in 2006, Centogene integrates multiomic technologies with its biodatabank to provide diagnostic insights and support drug discovery and development for rare and neurodegenerative diseases. The company's biodatabank, with data from over 800,000 patients from more than 120 countries, has contributed to over 285 peer-reviewed publications and facilitated more than 50 collaborations with pharmaceutical partners.

This news is based on a press release statement from Centogene N.V. and does not include any promotional content or endorsement of the company's claims.

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