Vaxxinity Inc., a biotechnology company, has announced its decision to voluntarily delist and deregister its Class A common stock from the Nasdaq exchange. The move comes after the company failed to meet the minimum bid price requirement set by Nasdaq and amid low trading volume. The company believes that delisting will allow it to focus on research and development efforts without being distracted by stock price fluctuations.
Vaxxinity (NASDAQ: VAXX) announced plans to voluntarily delist its shares from the Nasdaq Exchange. The company will file for delisting on April 29, 2024, expecting its final day of trading on Nasdaq to be May 9, 2024. Vaxxinity received a delisting notice in February requiring it to get its share price above $1 by August 7, 2024. The company chose to delist early to reduce its obligations and save money. Despite the delisting, VAXX stock is expected to continue trading on OTC Markets after May 9.
