aibioNasdaq to complete delisting of ZyVersa Therapeutics stock with Form 25 filing
Tickers ZVSA
Nasdaq told ZyVersa it would announce the delisting on September 18, 2025. The shares have traded on the OTCQB Venture Market since July 28, 2025.
Key facts
- Company
- ZyVersa Therapeutics, Inc. (OTC: ZVSA)
- News type
- Listings
- Primary source
- ZyVersa Therapeutics, Inc. 8-K (2025-09-18)
ZyVersa Therapeutics, Inc. (OTCQB: ZVSA) said that on September 14, 2025 The Nasdaq Stock Market notified it that Nasdaq would announce the delisting of the company's common stock on September 18, 2025. The notice is the latest formal step in a process that began in the summer. Nasdaq will file a Form 25 with the Securities and Exchange Commission to complete the delisting under Rule 12d2-2 of the Securities Exchange Act of 1934. The delisting becomes effective ten days after that form is filed.
The 8-K is filed under Item 3.01, the item for notices of delisting or failure to satisfy a continued listing rule or standard. It discloses the step and says the common stock will continue trading on the over-the-counter market without disruption.
How the stock got here
The Nasdaq Hearings Panel notified the company in writing on July 15, 2025 that it had determined to delist the company's securities. The reason was the company's failure to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). Trading on The Nasdaq Capital Market was suspended at the open on July 17, 2025. The company had reported the Panel's decision in an 8-K filed on July 16, 2025.
Since July 28, 2025, the common stock has traded on the OTCQB Venture Market under the symbol ZVSA. The company's 8-K says trading there will continue without disruption. It does not describe any change in the company's reporting obligations, and it does not say what information holders will receive once the Form 25 takes effect.
The September notice therefore formalizes a delisting that had already taken the stock off Nasdaq. The shares have been trading over the counter since late July, and the Form 25 completes the exchange's side of the change.
What the company does
The company's annual report on Form 10-K describes ZyVersa as a clinical stage biopharmaceutical company developing drugs for patients with chronic renal or inflammatory diseases. It has two proprietary, globally licensed drug development platforms, each discovered by research scientists at the University of Miami Miller School of Medicine.
The first is the Cholesterol Efflux Mediator VAR 200, an injectable drug in clinical development for renal diseases. The company licensed VAR 200 from L&F Research LLC on December 15, 2015. Its lead indication is focal segmental glomerulosclerosis. The company filed an Investigational New Drug application for VAR 200 on January 21, 2020, and the 10-K says the FDA has allowed its development plans to proceed to a Phase 2a trial in patients with that disease. The 10-K says the renal pipeline is initially focused on rare, chronic glomerular diseases.
The second is the Inflammasome ASC Inhibitor IC 100, a humanized monoclonal antibody in preclinical development for inflammatory conditions. The company licensed IC 100 from InflamaCore, LLC on April 18, 2019. The 10-K says the company's strategy is to expand indications for each candidate in order to maximize commercial potential.
The gap between the pipeline and the listing
The 10-K describes both programs in the language of development rather than of sales. One is in clinical development, and the other is preclinical. The 10-K does not describe either candidate as approved for sale. The 8-K does not say how the company plans to fund its programs once the delisting takes effect.
What the notice leaves out
The 8-K does not give the company's cash position, its net loss or any going-concern assessment. It does not say whether the Form 25 has been filed as of the notice date, or whether the company intends to ask the Panel for any further relief. The cover page gives the principal executive office in Weston, Florida, and the commission file number, but it does not describe current operations or finances.
For holders, the facts are these. Nasdaq is ending the listing, the stock already trades on the OTCQB, and the company will remain quoted only over the counter once the Form 25 takes effect. The financial position behind that change is not in the filing.