Karyopharm faces Nasdaq delisting following Chapter 11 filing
KPTI•Nasdaq notified Karyopharm Therapeutics on November 4 that it will delist the company's securities following its Chapter 11 filing. Trading is set to be suspended November 11, with the stock expected to begin over-the-counter trading on or after that date under KPTIQ.
1. Nasdaq delisting notice
Karyopharm Therapeutics and its subsidiary KPT Texas filed Chapter 11 petitions on November 2 in the Southern District of Texas. Nasdaq cited public interest concerns, shareholders' residual equity interests and continued-listing compliance risks; the company will not appeal.
2. Trading suspension planned
Trading in Karyopharm's common stock will be suspended on Nasdaq at the opening of business on November 11. The stock is expected to begin over-the-counter trading on or after that date under KPTIQ, replacing KPTI.
