Seelos Therapeutics Delisted From Nasdaq, Will Transition To OTC Market
Portfolio Pulse from Juan Spínelli
Seelos Therapeutics has been delisted from Nasdaq due to failure to meet minimum stockholder equity requirements. Trading will move to the OTCQB market, but there's no guarantee of continued trading. This follows a recent agreement with the Department of Defense for PTSD research.
October 15, 2024 | 5:31 pm
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NEGATIVE IMPACT
Seelos Therapeutics has been delisted from Nasdaq due to non-compliance with stockholder equity requirements. The stock will transition to the OTCQB market, but future trading is uncertain.
The delisting from Nasdaq is a significant negative event for Seelos Therapeutics, as it indicates financial instability and may reduce investor confidence. The transition to the OTC market often results in lower liquidity and visibility, which can further impact the stock price negatively. The recent 45.32% drop in share price reflects this negative sentiment.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100