Delisting of Securities of Renovare Environmental, Inc.; Endo International plc; Clarus Therapeutics Holdings, Inc.; NewAge, Inc.; and Allena Pharmaceuticals, Inc. from The Nasdaq Stock Market

Rhea-AI Summary

On September 13, 2022, Nasdaq announced the delisting of common stocks from several companies including Renovare Environmental, Endo International, Clarus Therapeutics, NewAge, and Allena Pharmaceuticals. All mentioned stocks had been suspended from trading prior to this announcement: Renovare on June 17, Endo on August 26, Clarus on August 31, and both NewAge and Allena on September 8, 2022. Nasdaq will file a Form 25 with the SEC to formalize these delistings, which will take effect ten days post-filing.

Positive

• None.

Negative

• Multiple companies, including Renovare Environmental, Endo International, Clarus Therapeutics, NewAge, and Allena Pharmaceuticals, have been delisted from Nasdaq, indicating significant financial or operational issues.
• The suspensions are indicative of serious challenges faced by these companies, as their stocks had not traded for weeks prior to the delisting.

NEW YORK, Sept. 13, 2022 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market announced today that it will delist the common stock of Renovare Environmental, Inc. Renovare Environmental, Inc.’s common stock was suspended on June 17, 2022 and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the ordinary shares of Endo International plc. Endo International plc’s shares were suspended on August 26, 2022 and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock and warrant 9/9/2026 of Clarus Therapeutics Holdings, Inc. Clarus Therapeutics Holdings, Inc.’s securities were suspended on August 31, 2022 and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of NewAge, Inc. NewAge, Inc.’s common stock was suspended on September 8, 2022 and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Allena Pharmaceuticals, Inc. Allena Pharmaceuticals, Inc.’s common stock was suspended on September 8, 2022 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.

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FAQ

Why was Renovare Environmental delisted from Nasdaq?

Renovare Environmental was delisted due to its stock being suspended since June 17, 2022, indicating financial or operational issues.

What date was Endo International's stock suspended?

Endo International's stock was suspended on August 26, 2022.

What companies are affected by Nasdaq's delisting announcement on September 13, 2022?

The companies affected include Renovare Environmental, Endo International, Clarus Therapeutics, NewAge, and Allena Pharmaceuticals.

What is the process for a stock to be delisted from Nasdaq?

Nasdaq files a Form 25 with the SEC, and the delisting becomes effective ten days after the form is filed.

How does the delisting affect shareholders of these companies?

Delisting generally indicates financial instability, which can significantly affect the value of shares held by shareholders.