Skip to main content

BioMedNewsBreaks – Nemaura Medical Inc. (NASDAQ: NMRD) Issues Update on Nasdaq Compliance Status

Nemaura (NASDAQ: NMRD), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today provided an update regarding the status of its compliance with continued listed standards and anticipated next steps to maintain its listing on the Nasdaq Capital Market. As previously announced, Nemaura was notified by letters dated April 3 and April 7, 2023, that the company no longer satisfied the minimum market value of listed securities and bid price requirements for continued listing on The Nasdaq Capital Market and, accordingly, was granted 180-day grace periods to regain compliance with those requirements, through Oct. 2 and Oct. 3, 2023, respectively. The company currently does not expect to regain compliance with the referenced listing criteria prior to the expiration of the applicable grace periods and, as a result, anticipates receipt of a delisting determination from the Nasdaq staff promptly following the expiration of the grace periods. Importantly, however, upon receipt of such determination, the company may request a hearing before a Nasdaq hearings panel to address the listing deficiencies, which request will stay any suspension or delisting action by Nasdaq at least until a hearing is held and any extension that may be granted by the panel to the company following the hearing has expired. The company plans to timely request such hearing and is considering all options available to regain compliance and maintain its listing on the Nasdaq Capital Market. “We are hopeful that there will be a positive outcome from a hearing before the panel,” said Dr Faz Chowdhury, the company’s chief executive officer. “In the meantime, we continue to focus on our business, including a planned product launch in Saudi Arabia following the SFDA (Saudi Arabia Food and Drug Authority) approval, and the expected commercial deployment of our consumer health offering following encouraging results from our trials with the UK NHS (National Health Service).”

To view the full press release, visit https://ibn.fm/6buAV

About Nemaura Medical Inc.

Nemaura is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The company is currently also commercializing sugarBEAT(R) and proBEAT(TM). sugarBEAT, a CE mark approved Class IIb medical device, is a non-invasive and flexible continuous glucose monitor (“CGM”) providing actionable insights derived from real time glucose measurements and daily glucose trend data, which may help people with diabetes and prediabetes to better manage, reverse and prevent the onset of diabetes. Nemaura has submitted a PMA (Premarket Approval Application) for sugarBEAT to the U.S. Food and Drug Administration (“FDA”). proBEAT combines non-invasive glucose data processed using artificial intelligence as part of a lifestyle program that is being refined for commercial launch. The company sits at the intersection of the global type 2 diabetes market that is expected to reach nearly $59 billion by 2025, the $50+ billion pre-diabetic market, and the wearable health-tech sector for weight loss and wellness applications that is estimated to reach $60 billion by 2023. For more information about the company, visit www.NemauraMedical.com.

NOTE TO INVESTORS: The latest news and updates relating to NMRD are available in the company’s newsroom at https://ibn.fm/NMRD

About BioMedWire

BioMedWire (“BMW”) is a specialized communications platform with a focus on the latest developments in the Biotechnology (BioTech), Biomedical Sciences (BioMed)and Life Sciences sectors. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled recognition and brand awareness.

BMW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from BioMedWire, “Biotech” to 844-397-5787 (U.S. Mobile Phones Only)

For more information, please visit https://www.BioMedWire.com

Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: https://www.BioMedWire.com/Disclaimer

BioMedWire
San Francisco, CA
www.BioMedWire.com
415.949.5050 Office
Editor@BioMedWire.com

BioMedWire is powered by IBN

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.