The US stock exchange told the company that it no longer meets a requirement of one of its listing rules, which states that listed securities must maintain a minimum market value of publicly held shares of $15m for 30 consecutive business days.
The company received the notice on February 19. At the time of writing, shares were trading at $0.72, giving the firm a market cap of $13.7m.
In a US Securities and Exchange Commission announcement, the company said it had until August 18 to regain compliance. It must exceed the minimum value for 10 consecutive business days.
This financing agreement provides us with significant additional capability
If Trinity Biotech fails to regain compliance, it can apply to transfer to the Nasdaq Capital Market, the lowest tier of the Nasdaq stock exchange. If it fails to transfer or meet the requirements, the shares risk being delisted.
The company can appeal any delisting determination made by Nasdaq to a hearings panel. However, it added that there can be “no assurance” that any appeal would be successful.
The notice has no effect on the company’s shares, which will continue to trade on Nasdaq’s Global Select Market.
?It has been a busy period for Trinity Biotech. Last week, they secured a $25m funding commitment from an affiliate of Yorkville Advisors, a flexible debt and equity financing firm for public and private companies.
John Gillard, president and CEO of the Bray-based group, said the funding would allow the company to advance new projects.
“Our key strategic objectives at Trinity Biotech are to grow our existing business profitably and to advance our exciting innovation agenda, including our flagship development CGM+,” he said.
“This financing agreement provides us with significant additional capability to progress these objectives.”
The standby equity purchase agreement with Yorkville means Trinity can sell up to $25m in newly issued shares over 36 months. It said the facility allows the Irish company to access capital “when it believes market conditions are appropriate”.
The company reported revenue of $48.6m in the 12 months to September 30, 2025, according to the SEC filing.
Recent momentum in the business had been driven by global demand for HIV testing. It produces and sells HIV tests, including Uni-Gold and TrinScreen. Trinity has placed much focus on its diabetes management technology, CGM+.
The continuous glucose monitoring platform is currently in the later stages of device development, the company said.
source