Forward Pharma Announced Expected Delisting of its American Depositary Shares from the Nasdaq Capital Market

Author: Charles Gross | December 19, 2022 07:06am
Forward Pharma A/S (NASDAQ:FWP) ("we" or "Forward"), today announced that that on December 16, 2022 it received written notice from The Nasdaq Stock Market LLC ("Nasdaq") notifying us that Nasdaq believes that Forward is a "public shell" pursuant to Listing Rule 5101, and that the continued listing of its securities is no longer warranted. We will not appeal this determination. Therefore, we expect the trading of our American Depositary Shares on The Nasdaq Capital Market to be suspended at the opening of business on December 28, 2022, and that Nasdaq will file a Form 25-NSE with the U.S. Securities and Exchange Commission (the "SEC"), which will remove Forward's securities from listing and registration on The Nasdaq Stock Market. Additionally, we intend to file with the SEC a Form 15 requesting the suspension of Forward's reporting obligations.

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