Cordlife Group (SGX:P8A) has received a third notice from the Ministry of Health (MOH) regarding its cord blood banking services, according to a Friday filing on the Singapore Exchange.
Effective Sept. 15, the company is restricted to collecting, testing, processing, and storing no more than 30 units of new cord blood per month until Jan. 13, 2025, unless otherwise approved by the Director-General of Health.
The company will accept the new conditions and will not submit written representations to the MOH. This modification is expected to continue negatively impacting the company's financial performance for the fiscal year ending Dec. 31, 2024.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.