Forward Pharma slides to record low on delisting notice from Nasdaq

Forward Pharma A/S

19/12/2022 15:49

** Shares of Danish drugmaker Forward Pharma  FWP.O  hit
record low, last down 34.1% at $1.72
    ** On Friday, co received notice that Nasdaq believes that
Forward is a "public shell" and that continued listing of its
securities is no longer warranted  urn:newsml:reuters.com:*:nGNXRwp0G
    ** FWP will not appeal this determination
    ** Co says it expects the trading of ADS on Nasdaq to be
suspended at the opening of business on Dec. 28, 2022
    ** Additionally, co intends to file Form 15 with the SEC,
requesting the suspension of Forward's reporting obligations
    ** More than 32,263 shares changed hands, more than 20 times
the stock's 25-day moving average
    ** As of last close, stock was down 57.2% YTD
 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((nandhini.srinivasan@thomsonreuters.com))