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AnPac Bio-Medical Science Co., Ltd. (ANPC) Stock Slumping After a Bullish Friday, Here’s Why

AnPac Bio-Medical Science Co., Ltd. (ANPC), a biotechnology company, has plunged 12.30% in aftermarket trading session. As a result, the stock was changing hands at $0.69 when last checked. During Friday’s regular trading session, the stock rose by 15.74 percentage points to close the day at $0.78. The stock slid massively in the aftermarket following the announcement of the receipt of the deficiency notice.

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ANPC Received Notice from NASDAQ

On Friday, ANPC announced that on the 8th of March 2022, it had received a notice from NASDAQ concerned with the non-compliance of the company with the requirement of the minimum bid price, i.e. $ per share. The notice said that the company had not been able to meet the requirement of the minimum bid price. It was further said that the notice is merely meant to be related to deficiency, not with imminent delisting of the company. The notice would have no immediate impact upon the company’s listing.

Appraisal by China Alliance Appraisal Co. Ltd.

On the 3rd of March, ANPC announced that Changwei System Technology Co., Ltd., its fully owned subsidiary related to the biochip industry, was appraised by China Alliance Appraisal Co. Ltd., which is an independent company and among the top 10 appraisers in China in terms of revenue. The appraisal report by China Alliance Appraisal reveals that the total valuation of Changwei System Technology currently stands at $90 million.

Breakthrough Device Designation Request Filing

On the 3rd of February, ANPC reported the filing of breakthrough device designation request with the FDA. The request is related to its CAD-related medical device. The medical device is reliant upon the analysis and detection of biophysical signals in the sample of blood. This in turn is used for the determination of the risk level of more than 20 types of cancer.

What’s Next for ANPC?

Looking ahead, analysts are of the view that despite its existence in a falling trend, short-term signals are positive for ANPC stock. Hence, at the current level, the stock holds the best buying opportunity for the investors as it is expected to perform well in the next few weeks.

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