AKYA Faces Nasdaq Delisting as Form 25 Submitted on 2025-07-08

Rhea-AI Filing Summary

Akoya Biosciences, Inc. (AKYA) has been the subject of a Form 25 filing submitted by Nasdaq Stock Market LLC on 2025-07-08. The Exchange states that it has satisfied the requirements of 17 CFR 240.12d2-2(b), allowing it to strike the company’s common stock from listing and registration under Section 12(b) of the Securities Exchange Act of 1934. Nasdaq certifies reasonable grounds for the filing and the notification is signed by Tara Petta, AVP. The form also references compliance with the voluntary withdrawal provisions of 17 CFR 240.12d-2(c).

Once effective, Akoya’s shares will no longer trade on Nasdaq and the Section 12(b) registration will terminate, severely reducing exchange-based liquidity and regulatory reporting obligations.

Positive

• None.

Negative

• Nasdaq has filed Form 25 to remove AKYA common stock from listing and Section 12(b) registration, which will sharply reduce liquidity and could limit investor access.

Insights

Exchange Regulation Specialist

TL;DR Nasdaq has initiated delisting of AKYA common shares via Form 25, removing them from Section 12(b) registration.

The filing confirms Nasdaq’s compliance with Rule 12d2-2(b), indicating an exchange-driven delisting (as opposed to purely issuer-voluntary). Delisting typically becomes effective ten days after filing, with SEC registration terminated 90 days later, although those specific effective dates are not detailed in this document. Loss of Nasdaq listing will materially reduce liquidity, visibility and index inclusion for Akoya investors and may shift trading to over-the-counter venues. The notice offers no rationale—such as non-compliance, low market cap or voluntary exit—so stakeholders must await further disclosures. From a governance perspective, the action is clearly negative for equity holders unless offset by a pending corporate event not disclosed here.

UNITED STATES

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

333-254760

Issuer:	Akoya Biosciences, Inc.
Exchange:	Nasdaq Stock Market LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	100 CAMPUS DRIVE
	6TH FLOOR
	MARLBOROUGH	MASSACHUSETTS	01752
Telephone number:					408-394-9403

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

Common Stock

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, Nasdaq Stock Market LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2025-07-08	By	Tara Petta		AVP
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Nasdaq file for Akoya Biosciences (AKYA)?

A Form 25 to remove AKYA common stock from listing and registration under Section 12(b).

Which security is affected by the filing?

Akoya Biosciences’ common stock class.

Who signed the Form 25 on behalf of Nasdaq?

Tara Petta, AVP, on 2025-07-08.

Which SEC rules are cited in the delisting notice?

Compliance with 17 CFR 240.12d2-2(b) and reference to 17 CFR 240.12d-2(c).

What is the potential impact of a Form 25 filing on shareholders?

Shares will cease trading on Nasdaq, reducing exchange liquidity and terminating Section 12(b) registration.