ACOR - Acorda Therapeutics announces Nasdaq delisting notification
2024-04-03 17:49:07 ET
- Acorda Therapeutics ( NASDAQ: ACOR ) on Wednesday announced that Nasdaq notified the company that it will suspend trading in and delist its common stock, effective with the opening of business on April 12.
- The notice follows the company's April 1 announcement that it has reached an agreement with Merz Therapeutics to acquire substantially all of the assets of the company.
- In connection with that announcement, Acorda and certain of its affiliates filed voluntary petitions to commence Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York.
- Nasdaq commenced proceedings to delist the company’s common stock, based on the Company’s noncompliance with Nasdaq Listing Rules 5101, 5110(b), and IM-5101-1 as a result of the company’s commencement of Chapter 11 proceedings, among others.
- Once the delisting takes effect, Acorda expects its common stock to begin trading on the Pink Open Market.
- Source: Press Release