On the risk of delisting of ordinary shares of DermTech, Inc. (DMTK)
In addition to the information previously disclosed, the International Trading System Limited (hereinafter – ITS) hereby informs on further details regarding the delisting risk of ordinary shares of DermTech, Inc. (ISIN US24984K1051, hereinafter – Shares, QI) from The Nasdaq Stock Market LLC (hereinafter - Nasdaq).
On May 15, 2024 DermTech, Inc. (hereinafter – the Company) submitted Quarterly report on Form 10-Q for the quarterly period ended March 31, 2024 to The United States Securities and Exchange Commission (hereinafter – SEC). According to the report, based on the Company’s current business operations, management believes that the Company's current cash and cash equivalents will not be sufficient to meet anticipated cash requirements for at least the next twelve months. These conditions raise substantial doubt as to the Company’s ability to continue as a going concern over the twelve months from the date of these financial statements. For more information, please refer to the report available on the SEC website.
Information regarding possible actions to be taken by ITS Ltd.
ITS Ltd. (hereinafter – ITS) conducts regular monitoring of the relevant information disclosed by the Company. Delisting of the Company’s securities (hereinafter – Qualified Investments) by Nasdaq will be considered to constitute a breach of the ITS Regulations on admitting financial instruments to trading and result in termination of trading in the Qualified Investments on ITS. In case Nasdaq decides to suspend trading in the Company's securities until the date of their delisting on Nasdaq, ITS may make a similar decision.