Emmaus stock plunges on delisting from Nasdaq

Emmaus Life Sciences

10/09/2019 14:28

** Drug developer's shares  EMMA.O  fall 32% to $3.05
premarket     
    ** Co says its common stock and warrants will be delisted
from Nasdaq at the start of trading on Wednesday, Sept. 11,
 urn:newsml:reuters.com:*:nPn6K2gdGa
    ** Says Nasdaq Hearings Panel had declined to reverse
decision to delist Emmaus common stock and warrants
    ** Co expects its common stock and warrants will be eligible
for quotation on the over-the-counter market after Sept. 11
    ** Says it is committed to listing on a major exchange
    ** Co said in July it had received a notice that it was not
compliant with the $5 mln minimum stockholders' equity
requirement under Nasdaq's listing rules  
    ** Up to Monday's close, stock had fallen 61% over the past
year

 (Reporting by Tamara Mathias in Bengaluru)
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