Burning Rock Biotech to Pursue Delisting of American Depositary Shares
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Burning Rock Biotech Limited Intentions to Delist ADS
GUANGZHOU, China — Burning Rock Biotech Limited (the “Company” or “Burning Rock”) has announced its intention to submit requests to the London Stock Exchange to cancel the admission to trading of its American Depositary Shares (ADSs) representing the class A ordinary shares of the Company. This decision is the result of persistent low trading volumes and liquidity issues for the ADSs on the LSE.
Reasons for Delisting
In evaluating the situation, it has become evident that the costs associated with maintaining such a listing on the LSE outweigh the benefits. Consequently, the Company is moving forward with its plans for delisting and cancellation of trading for the ADSs from the London Stock Exchange. The anticipated date for the Delisting to take effect is around September 18, 2024.
Ongoing Trading on Nasdaq
Despite the upcoming delisting from the LSE, Burning Rock Biotech's ADSs will still be available for trading on the Nasdaq Global Market. This enables the Company to maintain investor engagement and trading activity through a reputable platform known for its higher liquidity.
About Burning Rock Biotech Limited
Burning Rock Biotech Limited (NASDAQ: BNR and LSE: BNR) is dedicated to advancing the field of precision oncology with a mission to Guard Life via Science. The Company focuses on the application of next generation sequencing (NGS) technology, which plays a crucial role in oncology. Their business strategy revolves around two primary areas: i) NGS-based therapy selection testing designed for late-stage cancer patients, and ii) NGS-based cancer early detection, which has transitioned from proof-of-concept research and development into clinical validation.
Investor Relations Contact
For more comprehensive details about Burning Rock, interested parties can reach out via email at IR@brbiotech.com.
Frequently Asked Questions
1. What prompted Burning Rock Biotech to consider delisting its ADSs?
The decision to pursue delisting was mainly due to sustained low trading volumes and liquidity challenges for the ADSs on the London Stock Exchange.
2. When is the expected date for the delisting to take effect?
The anticipated date for the delisting from the London Stock Exchange is around September 18, 2024.
3. Will Burning Rock Biotech’s ADSs continue to be traded elsewhere?
Yes, even after the delisting from the LSE, the ADSs will continue to be traded on the Nasdaq Global Market.
4. What are the primary focus areas of Burning Rock Biotech?
The Company focuses on NGS-based therapy selection testing for late-stage cancer patients and NGS-based cancer early detection, which is currently in the clinical validation stage.
5. How can investors get in touch with Burning Rock Biotech?
Investors can contact Burning Rock Biotech through their email at IR@brbiotech.com for more information.
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