Osiris Therapeutics receives notice of delisting from NASDAQ
The letter also states that NASDAQ will file a Form 25 with the SEC to formally delist the company's securities from NASDAQ, to become effective ten days after filing.
The company currently anticipates that its common stock will be quoted on the Pink OTC Markets Inc. system, referred to as the "pink sheets."
However, there can be no assurance that a market maker will apply to quote the company's common stock or that the company's common stock will become eligible for the pink sheets.
The company is working diligently to complete its previously announced restatement of prior period financial statements, transition to a new independent registered public accounting firm and conclude its 2015 and 2016 audits so that it will be in a position to bring its SEC filings up to date.
The company intends to seek to relist its common stock on NASDAQ or another national securities exchange as soon as possible once it becomes current in its reporting obligations.
There can be no assurance regarding the timing or ultimate outcome of this process or the ability of the company to relist its common stock on NASDAQ or another national securities exchange. ■
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