Trinity Biotech receives notice for non-compliance with Nasdaq Global Select listing

Trinity Biotech recently received a notice from Nasdaq regarding its non-compliance with the Nasdaq Listing Rule 5450(a)(1). This rule mandates that listed securities maintain a minimum bid price of $1.00 per share for 30 consecutive business days. Despite this, the company’s American Depositary Shares (ADSs) will continue to trade on the Nasdaq Global Select Market under the symbol “TRIB.”

To regain compliance with the minimum bid price requirement, Trinity Biotech has 180 calendar days, until August 10, 2026. During this time, the closing bid price of the ADSs must be at or above $1.00 for ten consecutive business days. If compliance is not met, the company may be eligible for an extension if it fulfills the continued listing requirement for the minimum value of publicly held shares ($15,000,000) and all initial listing standards for The Nasdaq Capital Market except for the bid price.

Trinity Biotech’s management is taking proactive measures to monitor the bid price of its ADSs and intends to rectify the deficiency within the grace period provided by Nasdaq. The company expects its ADSs to remain listed and traded on the Nasdaq Global Select Market during this time. Management is currently assessing various strategies to regain compliance and uphold its continued listing on the exchange.

In a forward-looking statement, Trinity Biotech discussed its cash position, financial resources, and potential for future growth. The company also highlighted market acceptance of new product offerings and projected recurring revenues and operational results. While these statements fall within the scope of the Reform Act, they are subject to risks and uncertainties.

Factors that may impact Trinity Biotech’s forward-looking statements include its ability to leverage recent acquisitions effectively, maintain its listing on the Nasdaq Stock Market, achieve profitability in the future, reduce debt, and navigate challenges such as the impact of COVID-19, potential funding disruptions, inventory levels, exchange rate fluctuations, and market acceptance of its products and services.

Trinity Biotech remains committed to addressing the non-compliance issue, utilizing the grace period provided by Nasdaq to regain compliance with the minimum bid price requirement. The company’s management is focused on exploring strategies to rectify the deficiency and ensure its continued listing on the Nasdaq Global Select Market.