Nasdaq Notified Talis Biomedical That Nasdaq Believes Co Is "Public Shell," & Continued Listing Of Its Common Stock Is No Longer Warranted
Portfolio Pulse from Benzinga Newsdesk
Nasdaq has notified Talis Biomedical that it considers the company a 'public shell,' and believes that the continued listing of its common stock is no longer warranted, according to an SEC filing.
August 23, 2024 | 8:38 pm
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Nasdaq has informed Talis Biomedical that it is considered a 'public shell,' suggesting that the continued listing of its common stock is unwarranted.
The notification from Nasdaq that Talis Biomedical is considered a 'public shell' and that its stock listing is unwarranted is a significant negative development. This could lead to delisting, which typically results in a decrease in stock price due to reduced investor confidence and liquidity concerns.
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