Zinger Key Points
- FRTX received a notice from Nasdaq stating its common stock will be suspended from trading on Nasdaq.
- This action followed the company's decision to withdraw an appeal and seek delisting from Nasdaq.
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Fresh Tracks Therapeutics Inc FRTX shares are volatile Monday morning, trading higher by 3.2% to $0.84, after the company received a notice from Nasdaq stating its common stock will be suspended from trading on Nasdaq and is expected to move to an over-the-counter market.
This action followed the company's decision to withdraw an appeal and seek delisting from Nasdaq in preparation for a planned liquidation and dissolution.
Fresh Tracks says they've scheduled a stockholders' meeting to vote on the approval of the liquidation plan; the company says failure to approve it might lead to a judicial dissolution, which could be costly and reduce the cash distribution to stockholders during the company's dissolution.
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According to data from Benzinga Pro, FRTX has a 52-week high of $3.14 and a 52-week low of $0.45.
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