Burning Rock Biotech Limited Intentions to Delist ADS
GUANGZHOU, China — Burning Rock Biotech Limited (referred to as the “Company” or “Burning Rock”) has declared its intention to request the cancellation of its American Depositary Shares (ADSs) from trading on the London Stock Exchange. This decision stems from ongoing issues with low trading volumes and liquidity for the ADSs on the LSE.
Reasons for Delisting
After careful consideration, it has become clear that the expenses associated with maintaining the listing on the LSE exceed the advantages. Therefore, the Company is proceeding with its plans to delist and cancel trading of the ADSs from the London Stock Exchange. The expected date for the delisting to take effect is approximately September 18, 2024.
Ongoing Trading on Nasdaq
Even though the delisting from the LSE is on the horizon, Burning Rock Biotech's ADSs will continue to be traded on the Nasdaq Global Market. This allows the Company to sustain investor interest and trading activity on a well-regarded platform known for its greater liquidity.
About Burning Rock Biotech Limited
Burning Rock Biotech Limited (NASDAQ: BNR and LSE: BNR) is committed to advancing precision oncology, with a mission to Guard Life via Science. The Company emphasizes the use of next generation sequencing (NGS) technology, which is vital in the field of oncology. Their business strategy is centered around two main areas: i) NGS-based therapy selection testing aimed at late-stage cancer patients, and ii) NGS-based cancer early detection, which has progressed from proof-of-concept research to clinical validation.
Investor Relations Contact
For more detailed information about Burning Rock, interested individuals 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 primarily due to ongoing 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 concentrates on NGS-based therapy selection testing for late-stage cancer patients and NGS-based cancer early detection, which is currently undergoing clinical validation.
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.
