| Over a week ago | ||||
Genetron has received… Genetron has received written notification from the Nasdaq Listing staff indicating that for the last 30 consecutive business days, the closing bid price for the company's ADSs was below the minimum bid price of $1.00 per share requirement. The Nasdaq notification letter has no current effect on the listing or trading of the Company's securities on Nasdaq. The company is provided with a compliance period of 180 calendar days, or until April 26, 2023, to regain compliance. In the event the company does not regain compliance by April 26, 2023, subject to the determination by the staff of Nasdaq, the company may be eligible for an additional 180-day compliance period. The company intends to monitor the closing bid price of its ADSs between now and April 26, 2023 and will take all reasonable measures in order to regain compliance with the Nasdaq minimum bid price requirement. | ||||
| Over a month ago | ||||
Check out this morning's…
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Reports Q2 revenue RMB… Reports Q2 revenue RMB 137.7M vs. RMB 140.5M last year. Cash and cash equivalents and current financial assets at fair value through profit or loss were RMB 472.7M as of June 30, 2022. | ||||
| Over a quarter ago | ||||
Genetron Holdings… Genetron Holdings announced that the special committee of the Company's Board of Directors has retained Kroll as its independent financial advisor and Davis Polk & Wardwell as its independent legal counsel. The Special Committee was formed to evaluate and consider the previously announced preliminary non-binding acquisition proposal letter dated August 21, 2022 as well as other potential strategic alternatives that the Company may pursue. | ||||
Genetron announced that… Genetron announced that its Board of Directors has received a preliminary non-binding proposal letter, dated August 21, from Mr. Sizhen Wang, co-founder, chairman of the Board and CEO of the company to acquire all of the outstanding ordinary shares, par value $0.00002 per share of the company, including the Ordinary Shares represented by the American depositary shares of the company for 27.2c per Ordinary Share or $1.36 per ADS in cash. According to the Proposal Letter, the Proposing Buyer intends to fund the consideration payable in the Proposed Transaction with a combination of debt and equity capital. Equity financing is expected to be provided in the form of rollover equity in the Company and cash contributions from the Proposing Buyer and third party sponsors. The Board has formed a special committee consisting of two independent directors, Wing Kee Lau and Dian Kang, to evaluate and consider the Proposed Transaction as well as other potential strategic alternatives that the company may pursue. The Special Committee intends to retain advisors, including an independent financial advisor and independent legal counsel, to assist it in its evaluation. The Board cautions the company's shareholders and others considering trading the company's securities that the Board has just received the Proposal Letter and has not had an opportunity to carefully review or evaluate the proposal, or make any decision with respect to the company's response to the Proposed Transaction or any alternative strategic option that the company may pursue. There can be no assurance that any definitive offer will be received, that any definitive agreement will be executed relating to the Proposed Transaction or that this or any other transaction will be approved or consummated. The company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law. | ||||
Genetron Health… Genetron Health reiterates its full year 2022 revenue to be around RMB 585-638 million, representing 10-20% growth over its revenue in 2021. | ||||
Reports Q1 revenue RMB… Reports Q1 revenue RMB 110.3M vs. RMB 92.1M last year. "While the "zero COVID" strategy in China and the lockdowns in our key markets have led to restricting operations and limiting patient traffic, we continue to provide important services for patients. We are pleased with the resiliency of our business and our ability to grow each of our segments in the first quarter," said Mr. Sizhen Wang, co-founder, Chairman and CEO of Genetron Health. "Data publications in Clinical and Translational Medicine and our presentations at the AACR Annual Meeting 2022 continue to demonstrate the capabilities of our innovative technology and this will support product adoption and advance our product pipeline. Against the backdrop of a challenging operating environment, we are committed to forging ahead with our major pipeline assets that would be key drivers for our future growth. At the same time, management is mindful of improving the Company's operational excellence. Overall, we are confident about our long-term competitive position and expect our solutions to become more widely adopted as government policy prioritizes optimal healthcare for citizens." | ||||
Genetron announced it has… Genetron announced it has obtained a CE Mark for its FusionScan Plus Kit, an integrated DNA and RNA NGS-based assay for simultaneously detecting multiple gene mutations and fusions with lower thresholds. Receipt of the CE Mark is an important step for the acceleration of FusionScan Plus's global footprint, and its potential to enter more international clinical trials in the future. | ||||
BTIG analyst Sung Ji Nam… BTIG analyst Sung Ji Nam lowered the firm's price target on Genetron to $10 from $17 but keeps a Buy rating on the shares. The regulatory environment for Chinese companies listed in the U.S. is showing signs of improvement, but China is potentially facing the worst wave of pandemic-related lockdowns that is currently affecting over 370M people, and the potential magnitude of the disruptions for Genetron in the near-term is uncertain, the analyst tells investors in a research note. | ||||
Genetron announced it has… Genetron announced it has received a CE Mark for its proprietary Human B Lymphocyte Minimal Residual Disease Detection Kit, which is also known as Seq-MRD. Based on high-throughput next generation sequencing technology, Seq-MRD assay is intended to test the CDR3 regional sequence of the IgH/K/L gene of the B cell receptor in bone marrow samples collected from patients with B lymphpocytic leukemia and multiple myeloma before and after the treatment. By screening out significant and specific clonal rearrangement form in a patient's tumor cells, this approach can detect minimal residual disease and provide a reference for the follow-up treatment of cancer survivors. | ||||
