Trinity Bioscience has announced that the it has received notice from Nasdaq that it has now regained compliance with the market's listing requirements.
The Dublin-based firm first received a notice of noncompliance for the minimum bid price of its shares in April 2023. In a statement, Trinity noted that it had also received a deficiency letter from the Nasdaq Listing Qualifications Department on November 21, 2023. The letter notified Trinity that the market value of their publicly held shares had remained below the minimum $15 million threshold required for continued listing on the Nasdaq for the preceding 30 consecutive business days
According to the firm, it met with the Nasdaq Hearings Panel in July to present its plan to regain compliance and was then granted an extension in early August that allowed it until October 31 to regain compliance.
Trinity said that it was notified of its success in demonstrating compliance with Nasdaq’s listing requirements on November 6, and its shares will continue to trade on the market.
