Vyant Bio (NASDAQ:VYNT) said its last day of trading on the Nasdaq Capital Market will be May 12, 2023. following its filing to voluntarily delist from the exchange.
The company said after delisting, it will file to suspend its Securities Exchange Commission (SEC) reporting obligations and deregister its securities, which will become effective 90 days after the SEC filing.
The company said its board of directors made the decision to pursue this strategy after careful consideration of a number of factors, including an expected reduction in operating expenses by eliminating SEC reporting costs which would allow it to focus on strategic alternative transactions or an orderly wind-down of the company, if necessary.
Following the delisting of the company’s stock on the Nasdaq Capital Market, Vyant Bio (NASDAQ:VYNT) said it anticipates its stock will be quoted on the OTC Pink Open Market under the ticker symbol “VYNT” on or about May 15, 2023.
However, the company noted in a statement that there is no guarantee that trading of its stock will continue on an OTC market or otherwise.
Vyant Bio (NASDAQ:VYNT) is a biotechnology company that incorporates innovative biology and data science to improve drug discovery for complex neurodevelopment and neurodegenerative disorders.
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