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ObsEva SA (NASDAQ:OBSV, SIX: OBSN))))), a biopharmaceutical company developing and commercializing novel therapies for women's health, today announced that it received a notification letter from The Nasdaq Stock Market LLC ("Nasdaq") on March 14, 2023, advising the Company that its securities are scheduled for delisting from The Nasdaq Capital Market and will be suspended at the opening of U.S. business on March 23, 2023. A Form 25-NSE will be filed with the Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing and registration on Nasdaq.
As previously announced, the Company received a notification letter on September 12, 2022 from Nasdaq advising it that it was not in compliance with Listing Rule 5450(a)(1) (the "Rule") because, for a period of thirty (30) consecutive business days, the bid price of ObsEva's common shares had closed below the minimum $1.00 per share requirement for continued listing. The Company was provided 180 calendar days, or until March 13, 2023, to regain compliance with the Rule. The Company has not regained compliance by this deadline.
ObsEva intends to maintain its SIX Swiss Exchange listing
Posted In: OBSV
