T2 Biosystems receives extension to comply with Nasdaq listing requirements

T2 Biosystems announced that the Nasdaq Hearings Panel has granted the Company’s request for an extension through November 20, 2023, to evidence compliance with Nasdaq’s minimum bid price and market value of listed securities requirements, as set forth in Nasdaq Listing Rules 5550(a)(2) and (b)(2). To satisfy the Rules, the Company must evidence a closing bid price of at least $1.00 per share and an MVLS of at least $35 million for a minimum of ten consecutive business days by November 20, 2023. If the Company is able to do so within the prescribed time period and satisfies all other applicable criteria for continued listing, the matter will be closed. During the extension period, the Company will continue to actively monitor its stock price and MVLS while it considers all options available to it and to take action, if necessary and as deemed appropriate by the Company’s board, to remedy the deficiency, including potentially effecting a reverse stock split. There can be no assurance, however, that the Company will be able to timely comply with the terms of the Panel’s decision.