aibioUniverse Pharmaceuticals gets Nasdaq delisting notice over delayed Form 20-F
Tickers UPC
The company is already before a Nasdaq Hearings Panel over a separate rule, 5550(a)(2). It says it will ask for a stay of the suspension and is working on the report.
Key facts
- Company
- Universe Pharmaceuticals Inc (NASDAQ: UPC)
- News type
- Listings
- Primary source
- Universe Pharmaceuticals Inc 6-K (2025-02-25)
Universe Pharmaceuticals Inc (Nasdaq: UPC) said on February 25, 2025 that it received a staff determination notice from the Nasdaq Listing Qualifications Department on February 19, 2025. The notice says the company is delinquent in filing its Annual Report on Form 20-F for the fiscal year ended September 30, 2024. Nasdaq said this matter serves as an additional basis for delisting the company's securities.
The failure to file the Form 20-F on time is a violation of Nasdaq Listing Rule 5250(c)(1), according to the notice.
The company is already before a Hearings Panel for failing to comply with Listing Rule 5550(a)(2). It was therefore given until February 26, 2025 to request a stay of the suspension of its securities while the Panel decides. The company said it intends to request a stay before that date.
Universe Pharmaceuticals said it is working on completing and filing the delayed Form 20-F. The company made the announcement under Nasdaq Listing Rule 5810(b), which requires prompt disclosure of a deficiency notification.