LIAN - LianBio Announces Voluntarily Delisting from Nasdaq | Benzinga
SHANGHAI, China and PRINCETON, N.J., Feb. 28, 2024 (GLOBE NEWSWIRE) -- LianBio (NASDAQ:LIAN) ("LianBio" or the "Company"), a biotechnology company dedicated to bringing innovative medicines to patients in China and other major Asian markets, today announced that it has provided notification to The Nasdaq Stock Market, Inc. ("Nasdaq") of its intent to delist the Company's American Depositary Shares ("ADSs"), each representing the right to receive one ordinary share of the Company, from the Nasdaq Global Market. LianBio expects to file a Form 25 (Notification of Removal from Listing) with the Securities and Exchange Commission (the "SEC") and Nasdaq relating to the voluntary delisting of its ADSs on or about March 11, 2024.
Following the delisting, any trading in the Company's ADSs would only occur in privately negotiated sales and potentially on an over-the-counter market. The Company expects that its ADSs will be quoted on a market operated by OTC Markets Group Inc. (the "OTC") so that a trading market may continue to exist for its ADSs. There is no guarantee, however, that a broker will continue to make a market in the ADSs and that trading of the ADSs will continue on an OTC market or otherwise.
As previously announced, the Company has initiated the wind down of its operations, including the voluntary delisting and deregistration of the Company's ordinary shares and ADSs, following the completion of a comprehensive strategic ...