Nymox Pharmaceutical (NASDAQ:NYMX) stock is falling on Thursday after the company told investors its shares will be delisted.
Shares of NYMX stock will no longer trade on the Nasdaq when markets open on Friday. The company says that this is due to its failure to regain compliance with the $1 minimum bid requirement for the exchange.
According to Nymox Pharmaceutical, it has already exhausted the six-month extension given to it by the Nasdaq to regain compliance. As a result, shares of NYMX stock will change over to the over-the-counter (OTC) market once the delisting goes through.
Dr. Paul Averback, CEO of Nymox Pharmaceutical, said the following about the delisting news:
“This is a key time for the Company, with more than one important marketing application being submitted. We are grateful to our loyal shareholders for their patience and we wish to assure our supporters that we are doing our best to deliver important milestones in our business development, in as reasonable a time horizon as possible.”
NYMX Stock Movement on Thursday
Following news of the delisting, shares of NYMX stock are seeing strong trading today. As of this writing, around 92,000 shares have changed hands. For the record, the company’s daily average trading volume is around 122,000 shares.
NYMX stock is down 18% as of Thursday morning.
Investors seeking more of the most recent stock market news will want to keep reading!
We have all of the latest stock market coverage that traders need to read about on Thursday morning. That includes why shares of VBI Vaccines (NASDAQ:VBIV), Akumin (NASDAQ:AKU) and Mullen Automotive (NASDAQ:MULN) stock are on the move today. You can find out more about these matters at the following links!
More Thursday Stock Market News
- Why Is VBI Vaccines (VBIV) Stock Down 40% Today?
- Why Is Akumin (AKU) Stock Up 31% Today?
- Why Is Mullen Automotive (MULN) Stock Up 45% Today?
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
