Delisting Determination,The Nasdaq Stock Market, LLC,
April 19, 2018, PhaseRx, Inc. The Nasdaq
Stock Market, Inc. (the Exchange) has determined to remove
from listing the common stock of PhaseRx, Inc.
(the Company), effective at the opening of the trading
session on April 30, 2018. Based on review of information
provided by the Company, Nasdaq Staff determined that the
Company no longer qualified for listing on the Exchange
pursuant to Listing Rule 5550(b)(1).
The Company was notified of the Staffs determination on
October 23, 2017.  The Company appealed the determination
to a Hearing Panel. Upon review of the information provided
by the Company, the Panel issued a decision dated
December 12, 2017, granting the Company continued listing
pursuant to an exception that included several milestones
that the Company was required to meet, towards the toal
of regaining compliance with Listing Rules
5550(b)(1) and 5110(b). However, the Company was
unable to meet the exception milestones as required.
On February 2, 2018, the Panel issued a final delisting
determination and notified the Company that trading in the Companys
securities would be suspended on February 5, 2018.
The Company did not request a review of the Panels decision
by the Nasdaq Listing and Hearing Review Council. The
Listing Council did not call the matter for review.
The Panels Determination to delist the Company
became final on March 19, 2018.