Trinity Biotech Regains Compliance with Nasdaq Minimum Closing Bid Price Rule

Rhea-AI Summary

Trinity Biotech regains compliance with Nasdaq listing rule

Positive

• Trinity Biotech has regained compliance with Nasdaq Listing Rule 5450(a)(1) by maintaining a minimum bid price of $1.00 per share for 10 consecutive business days.

Negative

• None.

DUBLIN, Ireland, May 05, 2023 (GLOBE NEWSWIRE) -- Trinity Biotech plc (Nasdaq: TRIB) (the “Company”), a leading developer and manufacturer of diagnostic solutions for the point-of-care and clinical laboratory markets, today reported the receipt of a formal notification from The Nasdaq Stock Market LLC ("Nasdaq") that the Company has regained compliance with Listing Rule 5450(a)(1), which requires the Company's ordinary shares to maintain a minimum bid price of $1.00 per share. The Nasdaq staff made this determination of compliance after the closing bid price of the Company's ordinary shares was at $1.00 per share or greater for the prior 10 consecutive business days. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5450(a)(1) and Nasdaq considers the prior bid price deficiency matter now closed.

Forward-Looking Statements

Certain statements made in this release that are not historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Trinity Biotech to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, but not limited to, the results of research and development efforts, risks associated with the outbreak and global spread of the coronavirus (COVID-19), the effect of regulation by the U.S. Food and Drug Administration and other agencies, the impact of competitive products, product development commercialization and technological difficulties. For additional information regarding these and other risks and uncertainties associated with Trinity Biotech’s business, reference is made to our reports filed from time to time with the U.S. Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.

About Trinity Biotech

Trinity Biotech develops, acquires, manufactures and markets diagnostic systems, including both reagents and instrumentation, for the point-of-care and clinical laboratory segments of the diagnostic market. The products are used to detect infectious diseases and to quantify the level of Haemoglobin A1c and other chemistry parameters in serum, plasma and whole blood. Trinity Biotech sells direct in the United States, Germany, France and the U.K. and through a network of international distributors and strategic partners in over 75 countries worldwide. For further information, please see the Company's website: www.trinitybiotech.com

Contact:	Trinity Biotech plc	Lytham Partners, LLC
	John Gillard	Joe Diaz
	(353)-1-2769800	(1)-602-889-9700
		E-mail investorrelations@trinitybiotech.com

FAQ

What is the news about Trinity Biotech?

The news is about Trinity Biotech regaining compliance with Nasdaq Listing Rule 5450(a)(1).

What is the minimum bid price required by the listing rule?

The minimum bid price required by the listing rule is $1.00 per share.

How did Trinity Biotech regain compliance?

Trinity Biotech regained compliance by maintaining a closing bid price of $1.00 per share or greater for 10 consecutive business days.

What are the risks associated with Trinity Biotech's business?

The risks associated with Trinity Biotech's business include the results of research and development efforts, the impact of regulation by the U.S. Food and Drug Administration and other agencies, the effect of competitive products, product development commercialization, and technological difficulties.