Seelos Therapeutics Announces Notice of Delisting from Nasdaq and Transfer of Listing to Over-the-Counter Market
Seelos Therapeutics, Inc. (Nasdaq: SEEL), a clinical-stage biopharmaceutical company, has received notice of delisting from Nasdaq due to non-compliance with the minimum stockholder's equity requirement. The company's common stock will be suspended from trading on Nasdaq effective October 16, 2024, and is expected to begin trading on the OTCQB on the same date.
The Nasdaq Hearings Panel had previously given Seelos until October 11, 2024, to regain compliance with the Equity Standard Rule. However, the company failed to meet this requirement. Seelos cautions that there is no assurance that a broker will continue to make a market in the company's common stock or that trading will continue on an over-the-counter market or elsewhere.
Seelos Therapeutics, Inc. (Nasdaq: SEEL), una compagnia biofarmaceutica in fase clinica, ha ricevuto una comunicazione di delisting da Nasdaq a causa della non conformità ai requisiti minimi di patrimonio netto degli azionisti. Le azioni ordinarie della società saranno sospese dalla negoziazione su Nasdaq a partire dal 16 ottobre 2024, e si prevede che inizieranno a essere negoziate sull'OTCQB nella stessa data.
Il Comitato Uditore del Nasdaq aveva precedentemente concesso a Seelos fino all'11 ottobre 2024 per ripristinare la conformità con la Regola sul Patrimonio Netto. Tuttavia, la società non è riuscita a soddisfare questo requisito. Seelos avverte che non c'è alcuna garanzia che un broker continuerà a fare mercato per le azioni ordinarie della società o che la negoziazione continuerà su un mercato over-the-counter o altrove.
Seelos Therapeutics, Inc. (Nasdaq: SEEL), una empresa biofarmacéutica en etapa clínica, ha recibido un aviso de deslistado de Nasdaq debido a la falta de cumplimiento con el requisito mínimo de patrimonio de accionistas. Las acciones ordinarias de la compañía serán suspendidas de la negociación en Nasdaq a partir del 16 de octubre de 2024, y se espera que comiencen a negociarse en el OTCQB en la misma fecha.
El Panel de Audiencias de Nasdaq había dado previamente a Seelos hasta el 11 de octubre de 2024 para recuperar el cumplimiento con la Regla de Patrimonio. Sin embargo, la compañía no pudo cumplir con este requisito. Seelos advierte que no hay garantía de que un corredor continúe haciendo mercado en las acciones ordinarias de la compañía o que la negociación continúe en un mercado extrabursátil o en otro lugar.
Seelos Therapeutics, Inc. (Nasdaq: SEEL), 임상 단계의 생명과학 회사는 최소 주주 자본 요구 사항 불이행으로 인한 Nasdaq 상장 폐지 통지를 받았습니다. 회사의 보통주는 2024년 10월 16일부터 Nasdaq에서 거래가 중단됩니다, 그리고 같은 날 OTCQB에서 거래가 시작될 것으로 예상됩니다.
Nasdaq 청문회 패널은 이전에 Seelos에게 자본 기준 준수를 위해 2024년 10월 11일까지 시간 을 주었습니다. 그러나 회사는 이 요구 사항을 충족하지 못했습니다. Seelos는 브로커가 회사의 보통주 시장을 계속 만들거나 장외 시장이나 다른 곳에서 거래가 계속될 것이라는 보장이 없음을 경고합니다.
Seelos Therapeutics, Inc. (Nasdaq: SEEL), une société bio-pharmaceutique en phase clinique, a reçu un avis de radiation de Nasdaq en raison du non-respect de l'exigence minimale de fonds propres des actionnaires. Les actions ordinaires de la société seront suspendues de la négociation sur Nasdaq à compter du 16 octobre 2024, et il est prévu qu'elles commencent à être négociées sur l'OTCQB à la même date.
Le panel d'audition de Nasdaq avait précédemment accordé à Seelos jusqu'au 11 octobre 2024 pour retrouver la conformité avec la règle de capital. Cependant, la société n'a pas pu répondre à cette exigence. Seelos avertit qu'il n'y a aucune garantie qu'un courtier continuera à faire un marché pour les actions ordinaires de la société ou que le trading continuera sur un marché de gré à gré ou ailleurs.
Seelos Therapeutics, Inc. (Nasdaq: SEEL), ein biopharmazeutisches Unternehmen in der klinischen Phase, hat eine Mitteilung über die Abmeldung von Nasdaq wegen Nichteinhaltung der Mindestanforderung an das Eigenkapital der Aktionäre erhalten. Die Stammaktien des Unternehmens werden ab dem 16. Oktober 2024 vom Handel an Nasdaq ausgesetzt, und es wird erwartet, dass sie an demselben Datum an der OTCQB gehandelt werden.
Das Nasdaq Hearing Panel hatte Seelos zuvor bis zum 11. Oktober 2024 Zeit gegeben, um die Einhaltung der Eigenkapitalstandardregel wiederherzustellen. Das Unternehmen ist jedoch gescheitert, diese Anforderung zu erfüllen. Seelos warnt, dass es keine Garantie gibt, dass ein Broker weiterhin einen Markt für die Stammaktien des Unternehmens machen wird oder dass der Handel auf einem außerbörslichen Markt oder anderswo fortgesetzt wird.
- None.
- Delisting from Nasdaq due to non-compliance with minimum stockholder's equity requirement
- Trading suspension on Nasdaq effective October 16, 2024
- Transfer to OTCQB market, potentially reducing visibility and liquidity
- Uncertainty about continued market-making and trading of the company's stock
Insights
The delisting of Seelos Therapeutics from Nasdaq is a significant setback for the company and its shareholders. This move to the OTCQB market typically results in reduced liquidity, lower trading volumes and potentially decreased investor interest. The failure to meet the minimum stockholder's equity requirement suggests underlying financial challenges.
For investors, this transition often leads to:
- Increased volatility and wider bid-ask spreads
- Reduced access to capital markets
- Potential loss of institutional investor interest
- Challenges in maintaining analyst coverage
The company's inability to regain compliance despite the extended deadline indicates persistent financial difficulties. This situation may impact Seelos' ability to fund ongoing clinical trials and development programs, potentially slowing progress in their CNS and rare disease pipeline. Shareholders should closely monitor the company's financial health and strategic plans to address these challenges in the coming months.
Trading in the Company's common stock will be suspended on Nasdaq effective with the open of business on October 16, 2024. As a result, the Company expects its common stock to begin trading on the OTCQB on that date. There can be no assurance that a broker will continue to make a market in the Company's common stock or that trading of the common stock will continue on an over-the-counter market or elsewhere.
About Seelos Therapeutics:
Seelos Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development and advancement of novel therapeutics to address unmet medical needs for the benefit of patients with central nervous system (CNS) disorders and other rare diseases. The Company's robust portfolio includes several late-stage clinical assets targeting indications including Acute Suicidal Ideation and Behavior (ASIB) in Major Depressive Disorder (MDD), amyotrophic lateral sclerosis (ALS) and spinocerebellar ataxia (SCA), as well as early-stage programs in
Forward-Looking Statements:
Statements made in this press release, which are not historical in nature, constitute forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These statements include, among others, those regarding the expected timing of the trading of the Company's securities on the OTCQB. These statements are based on our current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties involved include those associated with general economic and market conditions, as well as other risk factors and matters set forth in our periodic filings with the SEC, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Contact Information
Anthony Marciano
Chief Communications Officer
Seelos Therapeutics, Inc. (Nasdaq: SEEL)
300 Park Avenue, 2nd Floor
(646) 293-2136
anthony.marciano@seelostx.com
Mike Moyer
Managing Director
LifeSci Advisors, LLC
250 West 55th St., Suite 3401
(617) 308-4306
mmoyer@lifesciadvisors.com
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SOURCE Seelos Therapeutics, Inc.
FAQ
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