NEW YORK (GenomeWeb News) — Nasdaq has notified Tripos that it can be delisted from the Nasdaq Global Market and from the Nasdaq Stock Market because it has become a “public shell” after selling its Discovery Research and Discovery Informatics branches.
Tripos, which said it has been anticipating the notice, said it will meet with the exchange June 28 to review the matter.
Tripos has been executing a liquidation plan since last year. Nasdaq said it may delist the company because Tripos “is not currently engaged in an active business operation” and is now a public shell.
Tripos said today it is “actively engaged” in trying to have its stock listed on the OTC Bulletin Board after Nasdaq delists it.
If that option fails Tripos said it will close its stock transfer books.