NEW YORK (GenomeWeb News) — As expected, the Nasdaq Stock Market said it plans to file a petition with the US Securities and Exchange Commission to delist Tripos, the market said today.
Nasdaq said the delisting will become effective 10 days after the filing. Tripos has not traded on the Nasdaq since July 6, when the market suspended its stock.
Tripos said at the time that the delisting was expected. The company had recently sold its Discovery Research business and had become a public shell, making its stock ineligible for listing on the Nasdaq.
Tripos also said in July it plans to seek to trade on the Nasdaq’s Over-the-Counter Bulletin Board, and that its stock will be available for quotation on the Pink Sheets electronic quotation service.