Ayala Pharmaceuticals Files Form 15 to Voluntarily Deregister and Suspend its Reporting Obligations

Rhea-AI Summary

Ayala Pharmaceuticals, a clinical-stage oncology company, has filed a Form 15 with the SEC to deregister its common stock under the Exchange Act and suspend reporting obligations. This move will make the company no longer a public reporting entity once the Form 15 is effective.

MONMOUTH JUNCTION, N.J., May 09, 2024 (GLOBE NEWSWIRE) -- Ayala Pharmaceuticals, Inc. (OTCQX: ADXS), a clinical-stage oncology company, today announced that it filed a Form 15 with the Securities and Exchange Commission (the “SEC”) to deregister its common stock under Section 12(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and to suspend its reporting obligations under Section 15(d) of the Exchange Act. The Company’s obligation to file periodic reports with the SEC, including reports on Forms 10-K, 10-Q and 8-K, will be suspended immediately upon filing of the Form 15. Once the Form 15 is effective, which is expected to occur within 90 days of filing, the Company will no longer be a public reporting company and its obligations to file other reports with the SEC will also be suspended.

About Ayala Pharmaceuticals, Inc.
Ayala Pharmaceuticals, Inc. is a clinical-stage oncology company with expertise in developing therapeutics for the treatment of various cancers. For more information, visit www.ayalapharma.com.

Cautionary Statement Regarding Forward-Looking Statements

Forward-looking statements, such as the statement in this press release regarding the effectiveness of the Form 15, are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:
Ayala Pharmaceuticals:
+1-857-444-0553
info@ayalapharma.com 

FAQ

What did Ayala Pharmaceuticals announce regarding its reporting obligations?

Ayala Pharmaceuticals filed a Form 15 with the SEC to deregister its common stock and suspend reporting obligations.

Under what act is Ayala Pharmaceuticals deregistering its common stock?

Ayala Pharmaceuticals is deregistering its common stock under Section 12(g) of the Securities Exchange Act of 1934.

What will happen to Ayala Pharmaceuticals' reporting obligations once the Form 15 is effective?

Once the Form 15 is effective, Ayala Pharmaceuticals will no longer be a public reporting company and its obligations to file reports with the SEC will be suspended.