Skip to main content
Premium Trial:

Request an Annual Quote

Seeking to Free Itself from Filing Fees, Lion Bioscience Asks SEC to Terminate Registration

NEW YORK, May 19 (GenomeWeb News) - Hoping to save more money, Lion Bioscience today filed a request with the SEC to terminate the registration of the company's ordinary shares with the agency, Lion said in a statement.


Lion said it expects this termination to become effective 90 days after its filing with the SEC. The filing frees the company from the obligation to file annual reports and other forms with the agency, Lion added.


The company will continue to provide shareholders financial information as required by the Frankfurt exchange and German law, Lion said.


As GenomeWeb News reported last year, Lion had delisted its American Depositary Shares from the Nasdaq National Market and terminated its American Depositary Receipt facility after the end of trading on Dec. 22. JP Morgan Chase Bank had sold on the German stock market "the underlying ordinary shares as to which [Lion's] ADSs had not been surrendered" to the bank by February 22, the statement said. 


The bank will hold the proceeds of the sales for the pro rata benefit of registered holders of ADSs that have not been surrendered, and these holders may contact the JP Morgan for their share, the company added.


The total number of shares outstanding are unaffected by deregistration with the SEC, the company said.

The Scan

US Booster Eligibility Decision

The US CDC director recommends that people at high risk of developing COVID-19 due to their jobs also be eligible for COVID-19 boosters, in addition to those 65 years old and older or with underlying medical conditions.

Arizona Bill Before Judge

The Arizona Daily Star reports that a judge weighing whether a new Arizona law restricting abortion due to genetic conditions is a ban or a restriction.

Additional Genes

Wales is rolling out new genetic testing service for cancer patients, according to BBC News.

Science Papers Examine State of Human Genomic Research, Single-Cell Protein Quantification

In Science this week: a number of editorials and policy reports discuss advances in human genomic research, and more.