Nasdaq to Suspend Inotiv Shares June 11 Amid Bankruptcy Proceedings
Summary
Nasdaq will suspend trading of Inotiv shares at the opening of business on June 11. This follows the company's Chapter 11 bankruptcy filing on June 3rd and an 8-K filed earlier today that announced the delisting. Delisting from a major exchange like Nasdaq severely impacts liquidity and visibility, marking a critical step in the company's financial restructuring and effectively ending its public trading on a primary market.
At the time of this announcement, NOTV was trading at $0.10 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.9M. The 52-week trading range was $0.08 to $3.19. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.