Trinity Biotech plc announced on November 7, 2024, that it received written notice from the Nasdaq Stock Market LLC confirming compliance with the minimum market value of publicly held shares (MVPHS) requirement. The company had previously received a deficiency letter on November 21, 2023, for falling below the $15 million MVPHS threshold required for continued listing on The Nasdaq Global Select Market. This resolution ensures the company's continued listing on the exchange.
The company met with the Nasdaq Hearings Panel on July 16, 2024, to present its plan to regain compliance. Subsequently, on August 1, 2024, Trinity Biotech was granted an extension until October 31, 2024, to demonstrate compliance. The notification on November 6, 2024, confirmed that the company successfully demonstrated compliance, and the matter is now officially closed.
CEO John Gillard stated that addressing the Nasdaq listing deficiencies was a top priority upon taking his role in December. Regaining compliance provides a more stable environment for executing strategic initiatives, including the development of its continuous glucose monitoring solution and driving profitability growth in its diagnostics business.
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