Form 25 Notice: HilleVax (HLVX) Nasdaq Listing Removal Filed

Rhea-AI Filing Summary

Nasdaq Stock Market LLC submitted a Form 25 notifying the SEC of the removal of HilleVax, Inc. (HLVX) from listing and/or registration under Section 12(b) of the Securities Exchange Act of 1934. The filing names the issuer and exchange and states the Exchange has complied with the rule provisions for striking the class of securities and cites the procedural provisions for voluntary withdrawal. The document does not state which specific rule provision box was checked, the effective date of the removal, the reason for removal, or include an authorized signature block with a named signatory.

Positive

• Procedural compliance noted: Nasdaq certifies it has complied with Form 25 requirements

Negative

• Listing removal indicated for HilleVax, which can materially reduce liquidity and investor access
• Key details missing: the filing does not state the effective date, the specific rule box checked, the reason for removal, or identify an authorized signatory

Insights

Securities Listings Specialist

TL;DR: Form 25 indicates delisting/withdrawal action for HLVX but lacks key details such as effective date or reason.

The filing is procedural: Nasdaq certified compliance with Form 25 requirements and referenced the applicable rule sections for striking a security and voluntary withdrawal. Material investor information typically present in such notices—effective date of removal, specific rule subsection relied upon, rationale (e.g., failure to meet listing standards or voluntary delisting), and an authorized signature—are absent. From a listings-compliance perspective, the filing establishes that action has been initiated or recorded but does not provide the substantive context investors need to assess impacts on trading, transfer restrictions, or corporate next steps.

Corporate Governance Expert

TL;DR: Delisting/withdrawal notice for HilleVax is potentially impactful for shareholders but the filing omits explanatory and logistical details.

Removal from an exchange’s listing can materially affect liquidity, shareholder access, and corporate disclosure obligations. This Form 25 confirms Nasdaq’s procedural step to remove HLVX from registration under Section 12(b) but does not indicate whether the action is voluntary or involuntary in substance, nor does it provide timelines or contact/signer information. Without those items, governance assessment is constrained; shareholders and counterparties lack the facts required to evaluate ramifications for trading, transfer mechanics, or regulatory compliance transitions.

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

001-41365

Issuer:	HilleVax, 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:	75 State Street, Suite 100 -#9995
	Boston	MASSACHUSETTS	02109
Telephone number:					617-206-3351

(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.

2025-09-17	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 does this Form 25 filing mean for HilleVax (HLVX) shareholders?

The filing notifies the SEC that Nasdaq is removing or withdrawing HLVX from listing/registration, which can affect liquidity and trading; the filing itself does not provide the effective date or reason.

Does the Form 25 state whether the delisting is voluntary or involuntary for HLVX?

No. The document references procedural provisions for striking securities and voluntary withdrawal but does not explicitly state which option applies or which rule provision box was selected.

When will HilleVax shares stop trading on Nasdaq?

The filing does not include an effective date or timeline, so the cessation of Nasdaq trading is not specified in this document.

Who signed the Form 25 on behalf of Nasdaq for this filing?

The filing contains a signature block template but does not include a named authorized signatory or a signature in the provided content.

Where can I find more information about the delisting of HLVX?

The Form 25 is a procedural notice to the SEC; additional details may appear in separate Nasdaq notices, issuer press releases, or subsequent SEC filings, but this specific document does not provide them.