Oncternal Therapeutics Moves Forward with Delisting Plans
Oncternal Therapeutics, Inc. (NASDAQ: ONCT) has made a significant announcement regarding its operational strategy. The clinical-stage biopharmaceutical company is preparing to file a Form 25 Notification of Delisting with the Securities and Exchange Commission (SEC). This strategic move aims to remove Oncternal's securities from listing on Nasdaq. As of March 17, 2025, they are set to initiate this process after Nasdaq previously suspended the trading of Oncternal's common stock in December 2024.
Reason Behind the Voluntary Delisting
The decision to pursue voluntary delisting comes as Nasdaq has not yet filed the necessary paperwork to officially delist Oncternal’s stock. By taking this action, Oncternal aims to expedite the process to enable filing a Form 15, which will lead to deregistration with the SEC. Once the delisting is effective, the company plans to file this Form 15 within ten days. Upon filing, Oncternal will no longer be required to fulfill periodic reporting obligations with the SEC, suspending the need to file Forms 10-K, 10-Q, and 8-K immediately.
Oncternal’s Commitment to Oncology
As a clinical-stage biopharmaceutical entity, Oncternal Therapeutics focuses on developing innovative oncology therapies targeting critical unmet medical needs in cancer treatment. The company is committed to advancing drug development that explores unique biological pathways involved in cancer progression, particularly for hematological malignancies and prostate cancer. Their dedication to addressing these significant challenges in the oncology space is commendable and crucial in the fight against cancer.
Overview of the Company’s Programs
Oncternal has been working on various promising therapies and initiatives aimed at improving outcomes for patients suffering from cancers that currently lack effective treatment options. The company’s innovative approach highlights its potential in the oncology field, where timely and effective therapies are urgently required. The strategic shift of deregistering with the SEC is part of a broader plan to refine its focus and resources on these critical development projects.
Investor and Contact Information
Investors are encouraged to reach out to Oncternal for further details regarding their initiatives and ongoing projects. For any inquiries, Richard Vincent, who serves as the point of contact for investors, can be reached at 858-245-8489 or via email at rvincent@oncternal.com.
Additionally, for business inquiries or partnerships, Pablo Urbaneja can be contacted at 415-316-8276 or through email at purbaneja@oncternal.com.
Frequently Asked Questions
What is Oncternal Therapeutics planning to do with its stock?
Oncternal Therapeutics intends to voluntarily delist from Nasdaq and deregister with the SEC to streamline its operations.
When will the delisting take effect?
The delisting will take effect after Oncternal files the necessary Form 25 with the SEC on March 17, 2025.
What does deregistering with the SEC mean for investors?
Deregistering means that Oncternal will no longer be required to file periodic reports, simplifying its reporting obligations.
How does this move impact Oncternal's focus on oncology?
This strategic decision allows Oncternal to concentrate its resources and efforts on developing innovative therapies within the oncology sector.
Who can I contact for more information about Oncternal?
Investors can contact Richard Vincent for inquiries related to investments, and business inquiries can be directed to Pablo Urbaneja.