FX.co ★ Phaxiam Therapeutics Says Delisting Of ADSs From Nasdaq Effective

Phaxiam Therapeutics (PHXM), a firm specializing in the creation of treatments for severe and resistant bacterial infections, announced on Monday that it has successfully implemented the voluntary removal of its American Depositary Shares, also known as ADSs, from the Nasdaq stock exchange.

The company declared its plans to file a Form 15 with the Securities and Exchange Commission, which will result in the suspension of its reporting obligations.

Phaxiam also stated that it anticipates deregistration of the ADSs to be in effect 90 days post the filing of Form 15.

The Bank of New York Mellon is appointed as the depositary for Phaxiam's ADS facility.

Owners of ADS will be granted time up until May 28, 2024, at the earliest, to surrender their ADSs in exchange for company shares.