Forward Pharma A/S Announces Intention to Transfer its U.S. Public Listing to the Nasdaq Capital Market Stock Exchange
Forward Pharma A/S - American Depositary Shares (FWP)
Last forward pharma a/s - american depositary shares earnings: 4/18 05:15 pm
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forward-pharma.com
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Source: GlobeNewswire
COPENHAGEN, Denmark, June 26, 2019 (GLOBE NEWSWIRE) -- Forward Pharma A/S (NASDAQ:FWP) (the “Company”) today announced its intention to transfer its public listing of American Depositary Shares from the Nasdaq Global Select Market to the Nasdaq Capital Market. This follows the development in the Company’s American Depositary Shares (“ADSs” or “shares”) price after the Settlement and License Agreement with Biogen, and the significant return of capital to its shareholders in 2017. On June 21, 2019, the Company received a written notice from the Nasdaq Stock Market (“Nasdaq”) indicating that the Company is not in compliance with the requirement for continued listing on the Nasdaq Global Select Market to maintain a minimum Market Value of Publicly Held Shares (“MVPHS”) of $5,000,000, as set forth in Nasdaq Listing Rule 5450(b)(1)(C) (the “MVPHS Notice”). Based upon the closing bid price for the 30 consecutive business days prior to the receipt of the MVPHS Notice, the Company no longer
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