Delisting of Securities of EQONEX LIMITED; Scopus BioPharma Inc.; Peak Bio, Inc.; Statera Biopharma, Inc.; Tricida, Inc.; Arbor Rapha Capital Bioholdings Corp. I; Calithera Biosciences, Inc.; Waitr Holdings Inc.; Allied Healthcare Products, Inc.; and Metacrine, Inc. from The Nasdaq Stock Market

Rhea-AI Summary

The Nasdaq Stock Market announced the delisting of several companies' shares, effective ten days after filing a Form 25 with the SEC. Companies affected include EQONEX LIMITED, suspended since November 30, 2022; Scopus BioPharma Inc., suspended since December 19, 2022; Peak Bio, Inc., suspended since January 10, 2023; Statera Biopharma, Inc., suspended since January 12, 2023; Tricida, Inc., suspended since January 24, 2023; Arbor Rapha Capital Bioholdings Corp. I, suspended since January 24, 2023; Calithera Biosciences, Inc. and Waitr Holdings Inc., both suspended since February 2, 2023; Allied Healthcare Products, Inc., suspended since February 3, 2023; and Metacrine, Inc., suspended since February 9, 2023.

Positive

• None.

Negative

• Delisting of multiple companies' shares, indicating financial instability or non-compliance with Nasdaq regulations.
• EQONEX LIMITED, Scopus BioPharma Inc., Peak Bio, Statera Biopharma, Tricida, Arbor Rapha Capital Bioholdings, Calithera Biosciences, Waitr Holdings, Allied Healthcare Products, and Metacrine have been suspended for extended periods, suggesting significant financial difficulties.

NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market announced today that it will delist the ordinary shares of EQONEX LIMITED. EQONEX LIMITED ordinary shares were suspended on November 30, 2022, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Scopus BioPharma Inc. Scopus BioPharma Inc. common stock was suspended on December 19, 2022, and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock and warrant of Peak Bio, Inc. Peak Bio, Inc.’s securities were suspended on January 10, 2023, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Statera Biopharma, Inc. Statera Biopharma, Inc. common stock was suspended on January 12, 2023, and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Tricida, Inc. Tricida, Inc. common stock was suspended on January 24, 2023, and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the Class A Common Stock, units, and warrants of Arbor Rapha Capital Bioholdings Corp. I. Arbor Rapha Capital Bioholdings Corp. I’s securities were suspended on January 24, 2023, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Calithera Biosciences, Inc. Calithera Biosciences, Inc.’s common stock was suspended on February 2, 2023, and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Waitr Holdings Inc. Waitr Holdings Inc.’s common stock was suspended on February 2, 2023, and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Allied Healthcare Products, Inc. Allied Healthcare Products, Inc.’s common stock was suspended on February 3, 2023, and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Metacrine, Inc. Metacrine, Inc.’s common stock was suspended on February 9, 2023, and has not traded on Nasdaq since that time.

Nasdaq will file a Form 25 with the Securities and Exchange Commission to complete the delistings. The delistings become effective ten days after the Form 25 is filed. For news and additional information about the companies, including the basis for the delisting and whether the companies’ securities are trading on another venue, please review the companies’ public filings or contact the company directly.

For more information about The Nasdaq Stock Market, visit the Nasdaq Web site at http://www.nasdaq.com. Nasdaq’s rules governing the delisting of securities can be found in the Nasdaq Rule 5800 Series, available on the Nasdaq Web site: https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5800-series.

-NDAQO- 

FAQ

What companies were delisted from Nasdaq on March 1, 2023?

On March 1, 2023, Nasdaq announced the delisting of EQONEX LIMITED, Scopus BioPharma Inc., Peak Bio, Inc., Statera Biopharma, Inc., Tricida, Inc., Arbor Rapha Capital Bioholdings Corp. I, Calithera Biosciences, Inc., Waitr Holdings Inc., Allied Healthcare Products, Inc., and Metacrine, Inc.

What does it mean when a company is delisted from Nasdaq?

Delisting from Nasdaq means a company's shares are removed from trading on the exchange, often due to non-compliance with financial or regulatory requirements.

Why were these companies suspended before their delisting?

These companies were suspended due to various reasons, including financial instability and non-compliance with Nasdaq's listing standards.

When will the delistings become effective?

The delistings will become effective ten days after Nasdaq files a Form 25 with the Securities and Exchange Commission.

What should investors do if their stocks are delisted from Nasdaq?

Investors should review the company's public filings for details about the delisting and consider contacting the company for further information on their securities.