Cyteir Announces On Or About March 18, 2024 The Trading Of The Common Stock On Nasdaq Be Suspended Effective Before The Market Opens
Portfolio Pulse from Benzinga Newsdesk
Cyteir Therapeutics, Inc. (NASDAQ:CYT) announced its intent to delist its common stock from the Nasdaq Global Select Market, with trading suspension effective before the market opens on March 18, 2024. This move precedes the company's filing of a certificate of dissolution on March 20, 2024, and the closure of its stock transfer books. The official delisting is expected to be effective on March 28, 2024. This decision is part of Cyteir's Plan of Complete Liquidation and Dissolution, approved by its board and stockholders, due to the costs and burdens of being a publicly traded company amidst its planned dissolution.

March 07, 2024 | 9:53 pm
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Cyteir Therapeutics, Inc. is delisting its common stock from Nasdaq, with trading suspension on March 18, 2024, and official delisting on March 28, 2024, as part of its liquidation plan.
The decision to delist and the subsequent suspension of trading directly impact CYT's stock price negatively in the short term. The lack of a trading market post-suspension and the company's move towards dissolution and liquidation indicate a significant decrease in investor confidence and stock value.
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