LONDON, Aug. 3, 2023
/PRNewswire/ -- Virax Biolabs Group Limited ("Virax" or the
"Company") (Nasdaq: VRAX), an innovative diagnostics company
focused on the detection of immune responses and diagnosis of
viral diseases, announced today that Nasdaq has approved the
Company's request for a 180-day extension to meet the $1 minimum bid price requirement.
On January 30, 2023, Nasdaq
provided notice to the Company that based on the previous 30
consecutive business days, the Company's listed common stock no
longer met the minimum $1 bid price
per share requirement as set forth in Nasdaq Listing Rule
5810(c)(3)(A)(ii). The Company was provided 180 calendar days, or
until July 31, 2023, to regain compliance.
Nasdaq has determined that the Company is eligible for an
additional 180 calendar day period, or until January 29, 2024, to regain compliance. If
at any time during this additional time period the closing bid
price of the Company's security is at least $1 per share for a minimum of 10 consecutive
business days, Nasdaq will provide written confirmation of
compliance.
About Virax Biolabs Group Limited.
Founded in 2013, Virax Biolabs Group Limited is an innovative
biotech company focused on the detection of immune responses to and
diagnosis of viral diseases. In addition to distributing an array
of in-vitro diagnostic test kits, Virax Biolabs Group Limited is
currently developing a proprietary T-Cell Test technology with the
intention of providing an immunology profiling platform that
assesses each individual's immune risk profile against major global
viral threats. T-Cell testing can be particularly effective in the
diagnosis and therapeutics of COVID-19 as well as other threats
including Monkeypox, Hepatitis B, Malaria, Herpes and Human
Papillomavirus.
For more information, please
visit www.viraxbiolabs.com.
Caution Concerning Forward Looking Statements:
This press release contains forward-looking statements. In
addition, from time to time, we or our representatives may make
forward-looking statements orally or in writing. We base these
forward-looking statements on our expectations and projections
about future events, which we derive from the information currently
available to us. Such forward-looking statements relate to future
events or our future performance, including: our financial
performance and projections; our growth in revenue and earnings;
and our business prospects and opportunities. You can identify
forward-looking statements by those that are not historical in
nature, particularly those that use terminology such as "may,"
"should," "expects," "anticipates," "contemplates," "estimates,"
"believes," "plans," "projected," "predicts," "potential," or
"hopes" or the negative of these or similar terms. In evaluating
these forward-looking statements, you should consider various
factors, including: our ability to change the direction of the
Company; our ability to keep pace with new technology and changing
market needs; and the competitive environment of our business.
These and other factors may cause our actual results to differ
materially from any forward-looking statement. Forward-looking
statements are only predictions. The forward-looking events
discussed in this press release and other statements made from time
to time by us or our representatives, may not occur, and actual
events and results may differ materially and are subject to risks,
uncertainties, and assumptions about us. These forward-looking
statements are based on information currently available to Virax
and its current plans or expectations and are subject to a number
of known and unknown uncertainties, risks and other important
factors that may cause our actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. These and other important factors are
described in detail in the "Risk Factors" section of Virax's Annual
Report on Form 20-F for the year ended March
31, 2022. Although we believe the expectations reflected in
such forward-looking statements are reasonable, we can give no
assurance that such expectations will prove to be correct. We are
not obligated to publicly update or revise any forward-looking
statement, whether as a result of uncertainties and assumptions,
the forward-looking events discussed in this press release and
other statements made from time to time by us or our
representatives might not occur.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/nasdaq-approves-180-day-extension-for-virax-biolabs-group-to-meet-minimum-1-bid-301892552.html
SOURCE Virax Biolabs