Medicenna Announces Nasdaq Delisting and Cutback of Management Team
The Company informed Nasdaq that it would not appeal the delisting decision or try to regain compliance by executing a reverse stock split.
- The Company informed Nasdaq that it would not appeal the delisting decision or try to regain compliance by executing a reverse stock split.
- The Company’s common shares will continue to trade on the Toronto Stock Exchange (“TSX”).
- Following the delisting of the Company’s common shares on the Nasdaq, the Company will also seek to have its common shares traded on the OTC Markets as soon as possible thereafter.
- In connection with the Nasdaq delisting and in effort to further preserve capital, the Board decided to reduce the size of its management team as well as its presence in the United States.