NanoString Technologies (NASDAQ:NSTG) announced Thursday that the company's shares will be delisted from Nasdaq effective February 14, 2024, in connection with its bankruptcy proceedings.
The securities will be transferred to the over-the-counter (“OTC”) market on the same day, awaiting trading. to start under the symbol NSTGQ.
The announcement follows a February 5 Nasdaq communication that notified management about impending delisting process as the company failed to meet stock exchange listing requirements amid bankruptcy filings.
Earlier this week, the life sciences company and some of its subsidiaries filed for Chapter 11 bankruptcy in a Delaware bankruptcy court as part of a restructuring drive.
The bankruptcy filings came weeks after a federal court jury in Delaware ordered NanoString (NSTG) to pay $31 million in damages to rival 10x Genomics (TXG) in connection with a patent dispute between the companies. two companies.
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