Indication intelligence, analysis and sector perception

Biostage (BSTG) de-listing determination

December 7, 2017 11:35am

Effective at the opening of the trading session on December 18, 2017 as communicated 12/7/17

Another shovel of dirt to its grave, shame on them ... incompetance at its worst!

The Nasdaq Stock Market has determined to remove from listing the common stock of Biostage, Inc. effective at the opening of the trading session on December 18, 2017.

Based on review of information provided by the Company, Nasdaq Staff determined that the Company no longer qualified for listing on the Exchange pursuant to Listing Rules 5550(a)(2) and 5550(b)(1).

BSTG was notified of the Staffs determination on May 18, 2017.

BSTG appealed the determination to a Hearing Panel. Upon review of the information provided by the Company, the Panel issued a decision dated July 6, 2017, granting BSTG continued listing pursuant to an exception that included several milestones that BSTG was required to meet, towards the goal of regaining compliance with Listing Rules5550(a)(2) and 5550(b)(1).

However, BSTG was unable to meet the exception milestones as required. On October 5, 2017, the Panel issued a final delisting determination and notified the Company that trading in the company’s securities would be suspended on October 6, 2017. The Panels Determination to delist the Company became final on November 20, 2017.

BSTG did not request a review of the panel’s decision by the Nasdaq Listing and Hearing Review Council. The Listing Council did not call the matter for review.

The Panels Determination to delist the Company became final on November 20, 2017.

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