On the forthcoming delisting of ordinary shares of DermTech, Inc. (DMTK)
Information regarding the QI's status on the foreign stock exchange
The International Trading System Limited (hereinafter – ITS) hereby informs on the forthcoming delisting of ordinary shares of DermTech, Inc. (DMTK) (hereinafter – Shares, QI) from The NASDAQ Stock Market LLC (hereinafter - Nasdaq).
On June 18, 2024 DermTech, Inc. (hereinafter – Company) submitted Current report Form 8-K to The United States Securities and Exchange Commission (hereinafter – SEC). According to the report, on June 18, 2024 the Company filed a voluntary petition to commence proceedings under chapter 11 (the “Chapter 11 Case”) of title 11 of the United States Code (the “Bankruptcy Code”).
On April 15, 2024 the Company received a notice from Nasdaq that the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2), as the minimum bid price of the Company’s common stock has been below $1.00 per share for the last 30 consecutive business days.
On May 15, 2024 the Company announced that its management had a substantial doubt as to the Company’s ability to continue as a going concern.
Information regarding the actions taken by ITS Ltd.
On June 19, 2024 ITS discovered that the QI of DMTK did not comply with the requirements of applicable legislation and Listing Rules and in view of the inability to regain compliance made a decision to terminate trading in QI effective July 24, 2024.
More detailed information may be found on the official website.