The Staff’s determination was based on the following factors: the associated public interest concerns raised by 4D pharma’s press release dated Jin which 4D pharma announced that it had been placed into administration under English law and concerns regarding the residual equity interest of the existing holders of listed securities.ĤD pharma may appeal the Staff’s determination to the Hearing Panel, pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series.ĤD pharma is a world leader in the development of Live Biotherapeutics, a novel and emerging class of drugs, defined by the FDA as biological products that contain a live organism, such as a bacterium, that is applicable to the prevention, treatment or cure of a disease.
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Accordingly, trading of 4D pharma’s LBPS will be suspended at the opening of business on July 7, 2022, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove 4D pharma’s securities from listing and registration on The Nasdaq Stock Market.
LEEDS, England, June 28, 2022-( BUSINESS WIRE)-4D pharma plc (AIM: DDDD, NASDAQ: LBPS), a pharmaceutical company leading the development of Live Biotherapeutic products (LBPs), a novel class of drug derived from the microbiome, today announces that on June 27, 2022, it received written notice from The Nasdaq Stock Market LLC ("Nasdaq") stating that in accordance with Listing Rules 5101, 5110(b), and IM-5101-1, Nasdaq Staff (the "Staff") has determined that 4D pharma’s securities will be delisted from The Nasdaq Stock Market.
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