Delisting Determination, The Nasdaq Stock Market, LLC,
March 3, 2023, Scopus BioPharma Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the common stock and warrant of Scopus BioPharma Inc.
(the Company), effective at the opening of the trading session on
March 13, 2023.
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 5450(b)(2)(A). The
Company was notified of the Staff determination on July 13,
2022. On July 20, 2022, the Company exercised its right to appeal
the Staff determination to the Listing Qualifications Hearings
Panel (Panel) pursuant to Rule 5815. A Panel hearing was held on
August 25, 2022. On October August 31, 2022, Staff issued an
additional delist determination letter for the Company failure
to meet the requirements of Listing Rule 5450(b)(2)(C).
On September 13, 2022, upon review of the information provided
by the Company, the Panel determined to grant the Company request
to remain listed in the Exchange subject to a series of milestones.
After failing to meeting the Hearings Panel exception, on December
15, 2022, the Hearings Panel issued a final decision denying the
Company continued listing and notified the Company that trading in
the Company securities would be suspended on December 19, 2022.
The Company did not appeal the Panel decision to the Nasdaq Listing
and Hearing Review Council (Council) and the Council did not call
the matter for review. The Staff determination to delist the Company
became final on January 30, 2023.