Summary by Moomoo AI
T2 Biosystems, a medical diagnostic company, has successfully regained compliance with the Nasdaq's market value of listed securities (MVLS) requirement for continued listing on the Nasdaq Capital Market. This development comes after the company was previously notified by Nasdaq on November 22, 2023, of its non-compliance due to its failure to maintain the minimum required MVLS of $35 million over a 30-day period. T2 Biosystems appealed for an exception and was granted until May 20, 2024, to demonstrate compliance. The company's successful compliance has been confirmed by Nasdaq on May 21, 2024. However, T2 Biosystems will be under a Mandatory Panel Monitor for one year, during which any failure to meet continued listing requirements could lead to delisting without additional time to regain compliance, although the company retains the right to request a new hearing before any delisting action is taken.
