LakeShore Biopharma Shifts to OTC Market Post Nasdaq Exit
LakeShore Biopharma's Market Transition
LakeShore Biopharma Co., Ltd (NASDAQ: LSB), a global leader in the biopharmaceutical sector, made a significant announcement regarding its trading status. As of the opening business today, the company's ordinary shares and warrants have ceased trading on The Nasdaq Capital Market.
New Trading Symbols on OTC Market
Starting from today, LakeShore's ordinary shares and warrants are expected to begin trading on the OTC Pink Open Market under the symbols "LSBCF" and "LSBWF" respectively. This change signifies an important transition as the company adapts to the current market conditions.
Reasons for Nasdaq Delisting
The decision to delist from Nasdaq was influenced by a letter from the exchange regarding non-compliance with its minimum bid price requirement. This action underscores the complexities firms face in meeting stringent listing standards. Previously, the company was unable to meet compliance due to a reverse stock split, leading to uncertainty in its bid price.
Company Operations Remain Unchanged
Despite this shift to the OTC Market, LakeShore Biopharma assures stakeholders that its fundamental business operations will not change. The company maintains its status as a reporting entity with the U.S. Securities and Exchange Commission, reinforcing its commitment to transparency and accountability.
About LakeShore Biopharma
LakeShore Biopharma, formerly known as YS Biopharma, continues to focus on the development of cutting-edge vaccines and therapeutic biologics targeting various infectious diseases, including Rabies and Hepatitis B. The organization employs an innovative PIKA immunomodulating technology platform, aiming to deliver effective solutions for global health challenges.
Global Reach and Expertise
Operating in regions such as Singapore and the Philippines, LakeShore Biopharma combines local expertise with extensive industry experience. Its leadership team is committed to advancing the biopharmaceutical landscape and addressing urgent health needs worldwide.
Future Goals and Innovations
Moving forward, the company aims to expand its portfolio of biologics while maintaining rigorous standards for quality and efficacy. By continuing to innovate, it seeks to make a lasting impact on the treatment of infectious diseases.
Frequently Asked Questions
What is LakeShore Biopharma's new trading symbol?
LakeShore Biopharma's ordinary shares will trade under the symbol "LSBCF" while its warrants will be listed as "LSBWF" on the OTC Market.
Why did LakeShore Biopharma get delisted from Nasdaq?
The company was delisted due to not meeting the minimum bid price requirement set by Nasdaq, particularly following a reverse stock split.
Will LakeShore Biopharma's operations be affected by this market transition?
No, the company has confirmed that its business operations remain unchanged despite the transition to the OTC Market.
What therapeutic areas does LakeShore Biopharma focus on?
LakeShore Biopharma focuses on developing vaccines and therapeutic biologics for infectious diseases, including Rabies, Hepatitis B, and Influenza.
How does LakeShore Biopharma ensure transparency with shareholders?
As a reporting company with the U.S. Securities and Exchange Commission, LakeShore Biopharma is committed to transparency in its operations and financial reporting.
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