Mainz Biomed regains Nasdaq compliance with equity rule

BERKELEY, Calif. and MAINZ, Germany - Mainz Biomed NV (NASDAQ:MYNZ), a company focused on early cancer detection diagnostics, has announced its return to compliance with Nasdaq's stockholders' equity requirement. On Sunday, the molecular genetics diagnostic company received formal notification from Nasdaq confirming its compliance with the minimum stockholders' equity standard for continued listing on the Nasdaq Capital Market. According to InvestingPro data, the company faces significant financial challenges with a weak overall financial health score and rapid cash burn rate.

The company had previously been notified of its compliance with Nasdaq's minimum bid price requirement. With these developments, Mainz Biomed is now fully compliant with all Nasdaq continued listing standards and will maintain its listing and trading on the Nasdaq Capital Market.

Mainz Biomed specializes in developing diagnostic solutions for life-threatening conditions. Its flagship product, ColoAlert®, is a non-invasive test for colorectal cancer that is currently available in Europe and the United Arab Emirates. The company is also conducting an FDA clinical study for ColoAlert® in pursuit of U.S. regulatory approval.

Furthermore, Mainz Biomed is working on a product called PancAlert, a screening test for early-stage pancreatic cancer, which is in the early stages of development. This test utilizes real-time Polymerase Chain Reaction (PCR) for the multiplex detection of molecular-genetic biomarkers in stool samples.

This announcement follows Mainz Biomed's efforts to maintain the standards required for listing on a major stock exchange, which includes meeting specific financial, liquidity, and corporate governance criteria. The company's achievement in regaining compliance underscores its commitment to these standards and to its investors.

Investors and other interested parties can find more information on Mainz Biomed's official website. This news is based on a press release statement from the company, and it is essential to note that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected outcomes.

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