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Synlogic, Inc. (NASDAQ:SYBX) announced Wednesday it received a notice from the Nasdaq Stock Market’s Listing Qualifications Department indicating the company may be subject to delisting. The letter, received Friday, stated that Nasdaq staff believe Synlogic is a “public shell” and that continued listing of its securities is no longer warranted.
According to the company’s statement, Nasdaq based its conclusion on a review of Synlogic’s public disclosures and submitted materials. The notice cited the company’s lack of revenue-generating assets, a substantial reduction in employees and operations since February 2024, and quarterly filings showing no revenue for the nine months ended 2025, with only $16,000 in research and development expenses.
The notice advised Synlogic that, unless it requests a hearing before a Nasdaq Hearings Panel, its securities would be subject to suspension or delisting. Synlogic stated it disagrees with Nasdaq staff’s assessment and intends to request a hearing, which will automatically stay any suspension or delisting action pending the outcome.
The company noted there is no assurance the hearing will be successful or that it will regain or maintain compliance with Nasdaq listing criteria.
This information is based on a press release statement contained in a Form 8-K filing with the Securities and Exchange Commission.
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