Odonate Therapeutics, Inc. (NASDAQ: ODT) received notice from Nasdaq on January 6, 2022, stating that Odonate is considered a 'public shell' under Listing Rule 5101.
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NEW YORK--(BUSINESS WIRE)--
Odonate Therapeutics, Inc. (NASDAQ: ODT) today announced that on January 6, 2022 it received written notice from The Nasdaq Stock Market LLC (“Nasdaq”) notifying Odonate that Nasdaq believes that Odonate is a "public shell" pursuant to Listing Rule 5101, and that the continued listing of its securities is no longer warranted. Odonate will not appeal this determination. Therefore, Odonate expects the trading of its common stock on The Nasdaq Stock Market to be suspended at the opening of business on January 18, 2022, and that Nasdaq will file a Form 25-NSE with the U.S. Securities and Exchange Commission (the “SEC”), which will remove Odonate’s securities from listing and registration on The Nasdaq Stock Market. Additionally, Odonate intends to file with the SEC a Form 15 requesting the suspension of the Company’s reporting obligations.
