Friday, July 6, 2018

MabVax Therapeutics Delisted From Nasdaq

San Diego-based antibody developer MabVax Therapeutics said on Thursday that the Nasdaq Stock Market has notified the company that it will delist the company's securities from the Nasdaq. According to MabVax, its stock will be suspended from the Nasdaq on Wednesday, July 11th. The delisting comes as the company has failed to meet the minimum requirement of $2.5 million in stockholders equity. MabVax, which already had been warned by the Nasdaq over failure to make a number of required filings, had announced on July 2nd that it did not intend to make any plan to remedy the situation, which triggered the delisting decision by the Nasdaq Stock Market. MabVax had said in May that it was under investigation by the SEC over failure to meet reporting and disclosure requirements by its preferred stockholders.