Oncternal Therapeutics Announces Intent to Voluntarily Delist from Nasdaq and Deregister with the SEC
Rhea-AI Summary
Oncternal Therapeutics (ONCT) has announced its intention to voluntarily delist from Nasdaq and deregister with the SEC. The company plans to file a Form 25 Notification of Delisting on March 17, 2025, following Nasdaq's previous suspension of ONCT's common stock trading on December 3, 2024.
After the delisting becomes effective, Oncternal will file a Form 15 to deregister with the SEC, which will immediately suspend its obligations to file periodic reports including Forms 10-K, 10-Q, and 8-K. The company's duty to file other Exchange Act reports will terminate 90 days after Form 15 submission.
Positive
- None.
Negative
- Voluntary delisting from Nasdaq stock exchange
- Trading suspension since December 3, 2024
- Termination of SEC reporting obligations
- Loss of major exchange visibility and liquidity
SAN DIEGO, March 07, 2025 (GLOBE NEWSWIRE) -- Oncternal Therapeutics, Inc. (Nasdaq: ONCT) (the “Company”) today announced its intention to file a Form 25 Notification of Delisting with the Securities and Exchange Commission on March 17, 2025, which will remove Oncternal's securities from listing and registration on Nasdaq, and to subsequently deregister with the Securities and Exchange Commission (“SEC”). Nasdaq previously suspended the trading of Oncternal’s common stock on December 3, 2024 and notified Oncternal that a Form 25 would be filed. However, as Nasdaq has not yet made the filing, Oncternal is doing so voluntarily to permit Oncternal to file a Form 15 to deregister with the SEC.
Once the Nasdaq delisting becomes effective, ten days later the Company will file a Form 15 to deregister with the SEC. Upon the filing of the Form 15, the Company’s obligation to file periodic reports with the SEC, including Forms 10-K, 10-Q, and 8-K, will be immediately suspended. The Company's duty to file any other reports required by the Exchange Act of 1934, as amended, with the SEC will be terminated 90 days after the filing of Form 15.
About Oncternal Therapeutics
Oncternal Therapeutics is a clinical-stage biopharmaceutical company focused on the development of novel oncology therapies for the treatment of patients with cancers that have critical unmet medical need. Oncternal pursues drug development targeting promising, yet untapped biological pathways implicated in cancer generation or progression, focusing on hematological malignancies and prostate cancer. More information on our company and programs is available at https://oncternal.com/.
Forward-Looking Information
Oncternal cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negatives of these terms or other similar expressions. These statements are based on Oncternal’s current beliefs and expectations. Forward-looking statements include statements regarding Oncternal’s intention to file a Form 15 and subsequently deregister with the SEC. Forward-looking statements are subject to risks and uncertainties inherent in Oncternal’s business, including Oncternal may delay filing the Form 15 and other risks described in Oncternal’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements in this press release are current only as of the date hereof and, except as required by applicable law, Oncternal undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Contact Information:
Investors
Richard Vincent
858-245-8489
rvincent@oncternal.com
Business Development
Pablo Urbaneja
415-316-8276
purbaneja@oncternal.com
FAQ
When will Oncternal Therapeutics (ONCT) be delisted from Nasdaq?
What happens to ONCT shareholders after the Nasdaq delisting?
When was ONCT stock trading suspended on Nasdaq?
Will ONCT continue filing SEC reports after delisting?
