Adaptimmune Therapeutics plc (NASDAQ: ADAP) announced on October 20, 2025 that its Board of Directors has decided to voluntarily delist its American Depositary Shares from the Nasdaq Capital Market and deregister them under Section 12(b) of the Securities Exchange Act. The decision follows an extensive review of strategic alternatives and is intended to reduce the costs associated with being a registered public company, including SEC filing, audit, and Sarbanes‑Oxley compliance expenses.
The company expects Nasdaq trading of its ADSs to be suspended following the closing of trading on October 27, 2025, after which the ADSs will be quoted on the OTC Pink Limited Market. The Board also plans to file a Form 15 with the SEC to certify that it has fewer than 300 shareholders of record, which will immediately suspend the company’s periodic reporting obligations under the Exchange Act.
Adaptimmune cited the high cost of maintaining Nasdaq listing standards and the opportunity to streamline operations as key drivers for the delisting. By moving to an OTC platform, the company anticipates significant cost savings and a simplified regulatory environment, allowing it to focus resources on its remaining assets and strategic initiatives.
The announcement follows a September 22, 2025 notice from the Nasdaq Hearings Panel confirming that the company had been granted an exception period to regain compliance with the Bid Price Rule. The Board’s decision to delist reflects a strategic shift to prioritize financial flexibility and operational efficiency in light of the company’s ongoing restructuring and capital needs.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.