OSR Holdings issued a CEO letter outlining an appeal plan following a Nasdaq Staff Delisting Determination received on Aug. 19.
A formal request for a Nasdaq hearings panel review is targeted for submission by Aug. 26.
The company reiterated a $15 million Put Option under the VXM01 license agreement, exercisable from Oct. 29 at $10 per share.
Management cited ongoing talks with BCM Europe’s South Korean backers on settlement capacity, and said the exercise date is not expected to move earlier.
The company said subsidiaries Woori IO and Darnatein will continue development activities despite the listing uncertainty.
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