Phaxiam Therapeutics Says Delisting Of ADSs From Nasdaq Effective

(RTTNews) - Phaxiam Therapeutics (PHXM), a company focused on treatments for severe and resistant bacterial infections, said on Monday that its voluntary delisting its American Depositary Shares or ADSs from the Nasdaq has taken effect.

Phaxiam will file a Form 15 with the Securities and Exchange Commission to suspend its reporting obligations.

The company said that it expects deregistration of the ADSs will become effective 90 days after the filing of the Form 15.

The Bank of New York Mellon serves as depositary for the company's ADS facility.

ADS holders will have until at least May 28, 2024, to surrender ADSs for delivery of shares.