TFF Pharmaceuticals Announces Delisting from Nasdaq and Potential SEC Deregistration

Rhea-AI Summary

TFF Pharmaceuticals (NASDAQ: TFFP) has announced its intention to voluntarily delist its common stock from the Nasdaq Capital Market. The company plans to file Form 25 with the SEC and Nasdaq around February 16, 2025, with the delisting becoming effective 10 days after filing. TFF has not made arrangements for listing or quoting its common stock on any other exchange or market. This delisting action is part of the company's planned liquidation and dissolution process.

Positive

• None.

Negative

• Voluntary delisting from Nasdaq Capital Market
• No alternative trading arrangements made for common stock
• Company planning complete liquidation and dissolution
• Loss of major market access for shareholders

Insights

Financial Restructuring Specialist

The announcement of TFF Pharmaceuticals' voluntary delisting from Nasdaq, coupled with plans for liquidation and dissolution, signals a terminal event for the company. This development carries severe implications for all stakeholders, particularly shareholders. The absence of arrangements for alternative trading venues is particularly concerning, as it typically results in shares becoming essentially worthless once delisting occurs.

The timing of events is important to understand: the Form 25 filing expected around February 16, followed by a 10-day waiting period before delisting becomes effective. During this period, shareholders should be aware that trading volumes might decrease significantly, potentially leading to reduced liquidity and increased price volatility. The subsequent liquidation process typically involves:

• Appointment of a liquidation trustee
• Sale of remaining assets
• Settlement of outstanding debts and liabilities
• Distribution of any remaining proceeds to shareholders (if any)

For the broader biotech sector, this event serves as a stark reminder of the inherent risks in development-stage pharmaceutical companies. The liquidation process could extend several months or even years, during which shareholders maintain certain rights but face significant uncertainty regarding any potential recovery of their investment.

FOXBOROUGH, Mass., Feb. 6, 2025 /PRNewswire/ -- TFF Pharmaceuticals, Inc. (Nasdaq: TFFP) today announced that the Company has provided notification to The Nasdaq Stock Market, LLC ("Nasdaq") of its intent to voluntarily delist the Company's common stock, par value $0.001 per share (the "Common Stock"), from the Nasdaq Capital Market. The Company expects to file a Form 25 (Notification of Removal from Listing) with the Securities and Exchange Commission (the "SEC") and Nasdaq relating to the delisting of its Common Stock on or about February 16, 2025. The removal of the Common Stock from Nasdaq will be effective 10 days after the filing of the Form 25. The Company has made no arrangements for the listing or quotation of its Common Stock on any other exchange, market or quotation medium.

The withdrawal of the Common Stock from listing and registration is being undertaken in connection with the planned the liquidation and dissolution of the Company.

Forward Looking Statements

Statements made in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward‐looking statements. Such statements include, but are not limited to, statements regarding our plans to wind down our operations or other statements not of historical fact. Risks that could cause actual results to differ from those expressed in these forward‐looking statements include: the timing, progress and results of our planned wind down; general market conditions; and other risks described in TFF Pharmaceuticals' filings with the Securities and Exchange Commission under the heading "Risk Factors". All forward‐looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. TFF Pharmaceuticals undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made except as required by law.

View original content:https://www.prnewswire.com/news-releases/tff-pharmaceuticals-announces-delisting-from-nasdaq-and-potential-sec-deregistration-302370494.html

SOURCE TFF Pharmaceuticals

FAQ

When will TFFP stock be delisted from Nasdaq?

TFFP plans to file Form 25 around February 16, 2025, with the delisting becoming effective 10 days after filing.

Will TFFP stock be traded on other exchanges after Nasdaq delisting?

No, TFF Pharmaceuticals has not made arrangements for listing or quotation of its common stock on any other exchange, market, or quotation medium.

Why is TFFP delisting from Nasdaq?

The delisting is part of TFF Pharmaceuticals' planned liquidation and dissolution of the company.

What happens to TFFP shareholders after the Nasdaq delisting?

After delisting, shareholders will have trading options as the stock won't be listed on any exchange or quotation medium, pending the company's planned liquidation.