Company is expected to regain listing compliance upon completion of the remaining 10-day requirement
NEW HAVEN, CT, (May 03, 2019) - Specialty diagnostics company Precipio, Inc. (NASDAQ: PRPO), announced that yesterday, in accordance with established Nasdaq protocol, the company held a hearing regarding it’s recent steps undertaken by it in order to regain compliance with the minimum bid price of $1.00.
Members of the Nasdaq Panel discussed the company’s situation with Precipio’s management team, and concluded that, upon completion of the number of remaining trading days above the $1 bid price, the company shall notify the committee in writing that it has satisfied the requirements under Nasdaq’s rules.
“I am delighted to put this issue behind us. The company presented a solid business plan before the Panel with strong growth prospects indicating to the Panel that we believe these measures will enable our share price to meet the requirements necessary to remain listed on the Nasdaq. ” said Ilan Danieli, Precipio’s CEO. “We can now focus our energy on the continued growth of the company and delivering on our mission”.
Precipio has built a platform designed to eradicate the problem of misdiagnosis by harnessing the intellect, expertise and technology developed within academic institutions and delivering quality diagnostic information to physicians and their patients worldwide. Through its collaborations with world-class academic institutions specializing in cancer research, diagnostics and treatment such as the Yale School of Medicine and Harvard’s Dana-Farber Cancer Institute, Precipio offers a new standard of diagnostic accuracy enabling the highest level of patient care. For more information, please visit www.precipiodx.com.
Certain statements in this press release constitute “forward-looking statements,” within the meaning of federal securities laws including financial projections related thereto and potential market opportunity, plans and prospects and other statements containing the words “anticipate,” “intend,” “may,” “plan,” “predict,” “will,” “would,” “could,” “should,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the known risks, uncertainties and other factors described in the Definitive Proxy filed by the Company on April 29, 2019 and the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 as filed on April 16, 2019 as well as the Company’s prior filings and from time to time in the Company’s subsequent filings with the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to in such statements. All information in this press release is as of the date of the release and the Company does not undertake any duty to update this information, including any forward-looking statements, unless required by law.