OncoSec Medical (ONCS) Faces Nasdaq Delisting
- June 23rd, 2023
- 424 views
On June 15, 2023, the Chapter 7 bankruptcy trustee for OncoSec Medical Incorporated (Nasdaq: ONCS) received a letter from Nasdaq's Listing Qualifications Department, as disclosed in a regulatory filing with the SEC.
The letter informed both the trustee and the company that Nasdaq has decided to delist OncoSec's securities based on several factors, including the Chapter 7 filing, concerns regarding existing securities holders' equity interest, and non-compliance with listing requirements. It further stated that the trading of the company's common stock will be suspended on June 26, 2023, and the securities will be removed from listing and registration on Nasdaq.
OncoSec Medical Incorporated stated that it does not intend to challenge the determination made by Nasdaq's Listing Qualifications Department. As a result, the company expects that its common stock will be suspended from trading at the start of business on June 26, 2023, and subsequently delisted from Nasdaq.
Despite the impending delisting, $ONCS is currently experiencing pre-market trading at $0.43, representing an increase of $0.22 (+104.57%).
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