Trinity Biotech Plc Stock Price, News & Analysis

Trinity Biotech plc (Nasdaq: TRIB) announced on April 19, 2023, that it has received a notice from Nasdaq regarding non-compliance with Listing Rule 555(a)(2), due to the bid price of its American depositary shares falling below $1.00 for 30 consecutive business days.

The company has until October 16, 2023, to regain compliance by achieving a closing bid price of $1.00 for at least ten consecutive business days. If not compliant, Trinity may qualify for an additional 180-day grace period if it meets other listing requirements. Management will actively monitor the bid price and explore options to regain compliance.

The global transport media market was valued at USD 13.15 billion in 2022 and is projected to decline to USD 12.59 billion by 2028. This decrease is attributed to shifting demands post-COVID-19, despite technological advancements made during the pandemic which enhanced diagnostic capabilities. The market has seen significant product introductions, particularly for viral transport media, which captured a 55.75% share in 2022 due to high diagnostic needs related to COVID-19 and emerging diseases like monkeypox. Regions like North America dominate with a 33.02% market share, influenced by high testing rates and advancements in research. The diagnostic segment is leading applications with 65.75% market share, although future growth may be challenged as demand for COVID-19 diagnostics declines.