BOTHEL, Wash., March 18, 2022 /PRNewswire/ — BioLife SolutionsInc. (Nasdaq: BLFS) (“BioLife” or the “Company”), a leading developer and provider of leading biomanufacturing products and services for the cell and gene therapy (CGT) and biopharmaceutical markets, has today announced that it has received a Notice (“Notice”) from the Nasdaq Stock Market Listing Qualifications Department (“Nasdaq”) following its failure to timely file its Annual Report on Form 10-K for the financial year ended December 31, 2021 (the “Form 10-K”). The notice advised the company that it was not in compliance with Nasdaq’s continued listing requirements under the timely filing criteria set forth in Nasdaq Listing Rule 5250(c)(1) ( Rule “).
troy wichtermanChief Financial Officer, said, “We anticipate that filing our Form 10-K will allow us to regain compliance with the Nasdaq Continuous Listing Rules. As previously stated, we intend to file the Form 10-K no later than March 31. , 2022.”
The notice also stated that under Nasdaq rules, the company has 60 calendar days from receipt of the notice, or until May 16, 2022, to submit a plan to regain compliance with the Rule. If Nasdaq accepts the Company’s plan, then Nasdaq may grant an exception for up to 180 calendar days from the due date of the Form 10-K, or until September 12, 2022, to find conformity. However, there can be no assurance that Nasdaq will accept the Company’s plan to regain compliance or that the Company will be able to regain compliance during any extension period granted by Nasdaq. If the Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearing Panel.
About BioLife Solutions
BioLife Solutions is a leading provider of leading biomanufacturing tools and services for cell and gene therapy and the broader biopharmaceutical markets. Our tool portfolio includes our own CryoStor® and HypoThermosol® biopreservation medium for transport and storage, ThawingSTAR® family of automated waterless defrosting products, evo® cold chain management system, large capacity cryogenic freezers, Ultracold Stirling mechanical freezers, SciSafe biological product storage services, and Sexton Biotechnologies cell processing tools. For more information, please visit www.biolifesolutions.com, www.scisafe.com, www.stirlingultracold.comWhere www.sextonbio.com and follow BioLife on Twitter.
Cautions Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the company’s ability to comply with the listing requirements Nasdaq and the Company’s plans, goals, expectations, beliefs and intentions and other statements including words such as “hopes”, “anticipates”, “may”, “believes”, “expects”, “has intention to”, “will”, “should”, “plan”, “estimate”, “predict”, “continue” and “potential” or the negative form of these terms or any other comparable terminology. The forward-looking statements contained herein represent the judgment of the Company, as of the date of this release, and the Company disclaims any intention or obligation to update any forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated. This press release should be read in conjunction with the information contained in other press releases, reports and other documents filed by the Company with the SEC and on the SEC’s website, www.sec.gov. It is important to understand the information contained in these documents in order to fully understand the Company’s reported financial results and our business prospects for future periods. Actual results may differ materially from the results anticipated in the forward-looking statements and from the assumptions and estimates used as the basis for the forward-looking statements.
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SOURCEBioLife Solutions, Inc.