Mainz Biomed announces compliance with Nasdaq listing requirements, including stockholders’ equity and bid price.
Quiver AI Summary
Mainz Biomed NV has announced that it has regained compliance with Nasdaq's minimum stockholders’ equity requirement, confirming its continued listing on the Nasdaq Capital Market. This follows the company’s earlier confirmation of compliance with the minimum bid price requirement. Mainz Biomed specializes in molecular diagnostics for early cancer detection, with its key product, ColoAlert®, a non-invasive test for colorectal cancer. The company is also pursuing FDA approval for its products and has a pipeline that includes PancAlert, a pancreatic cancer screening test. For ongoing updates, investors can visit Mainz Biomed’s website.
Potential Positives
- Mainz Biomed has regained compliance with Nasdaq's minimum stockholders’ equity requirement, ensuring its continued listing on the Nasdaq Capital Market.
- The company previously regained compliance with the minimum bid price requirement, indicating improved financial stability.
- This compliance allows Mainz Biomed to maintain its access to capital markets, which is crucial for future growth and development of its cancer diagnostic products.
- Mainz Biomed is progressing in its pivotal FDA clinical study for US regulatory approval of its flagship product, ColoAlert®, which may significantly expand its market presence.
Potential Negatives
- The announcement indicates that the company had previously been out of compliance with Nasdaq's listing requirements, highlighting potential financial instability.
- The reliance on forward-looking statements and the disclosure of various risks and uncertainties may raise concerns about the company's future performance and ability to achieve its goals.
- Missing information regarding specific financial metrics or the reasons behind prior non-compliance may lead to skepticism among investors about the company's overall health and strategy.
FAQ
What recent compliance achievement did Mainz Biomed announce?
Mainz Biomed announced that it has regained compliance with Nasdaq's minimum stockholders’ equity requirement for continued listing.
What is the significance of ColoAlert®?
ColoAlert® is Mainz Biomed’s flagship product, an early-detection test for colorectal cancer that is non-invasive and user-friendly.
Where is ColoAlert® marketed?
ColoAlert® is marketed across Europe and the United Arab Emirates.
What are Mainz Biomed's future plans regarding PancAlert?
Mainz Biomed is conducting a pivotal FDA clinical study for its PancAlert pancreatic cancer screening test for US regulatory approval.
How can investors find more information about Mainz Biomed?
Investors can visit Mainz Biomed’s official investor website at mainzbiomed.com/investors/ for more information.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MYNZ Hedge Fund Activity
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- STEWARD PARTNERS INVESTMENT ADVISORY, LLC added 29,000 shares (+inf%) to their portfolio in Q3 2024, for an estimated $7,221
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Full Release
BERKELEY, Calif. and MAINZ, Germany, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Mainz Biomed NV (NASDAQ:MYNZ) (“Mainz Biomed” or the “Company”), a molecular genetics diagnostic company specializing in the early detection of cancer, announced today that on January 23, 2025, the Company received formal notice from The Nasdaq Stock Market LLC (“Nasdaq”) confirming that it has regained compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market set forth in Listing Rule 5550(b)(1). Mainz Biomed had previously received confirmation that it had regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). Mainz Biomed is now in full compliance with all Nasdaq continued listing requirements and will continue to be listed and traded on The Nasdaq Capital Market.
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About Mainz Biomed NV
Mainz Biomed develops market-ready molecular genetic diagnostic solutions for life-threatening conditions. The Company’s flagship product is ColoAlert
®
, an accurate, non-invasive and easy-to-use, early-detection diagnostic test for colorectal cancer. ColoAlert
®
is marketed across Europe and the United Arab Emirates. The Company is currently running a pivotal FDA clinical study for US regulatory approval. Mainz Biomed’s product candidate portfolio also includes PancAlert, an early-stage pancreatic cancer screening test based on real-time Polymerase Chain Reaction-based (PCR) multiplex detection of molecular-genetic biomarkers in stool samples. To learn more, visit
mainzbiomed.com
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For media inquiries
MC Services AG
Anne Hennecke/ Simone Neeten
+49 211 529252 20
[email protected]
For investor inquiries, please contact
[email protected]
Forward-Looking Statements
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected development and related targets; (ii) changes in applicable laws or regulations; (iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the “SEC”) by the Company. Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in its initial filings with the SEC, including its annual report on Form 20-F filed on April 9, 2024. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to Mainz Biomed and speaks only as of the date on which it is made. Mainz Biomed undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.