Summary by Futu AI
On April 16, 2024, Panbela Therapeutics, Inc. announced its decision to delist its common stock from The Nasdaq Stock Market LLC and transition to the OTCQB market, a venture market operated by the OTC Markets Group Inc. The company's board of directors approved the delisting following a Nasdaq hearings panel decision on March 5, 2024, to delist Panbela's stock due to non-compliance with the minimum stockholders' equity requirement. Trading on Nasdaq was suspended on March 7, 2024. Panbela's common stock became eligible for quotation on the OTCQB under the symbol 'PBLA' starting April 17, 2024. The company plans to file a Form 25 with the SEC to deregister its common stock under Section 12(b) of the Securities Exchange Act of 1934, which will not affect its OTCQB eligibility. Panbela also issued a press release on April 16, 2024, detailing the transition and its ongoing clinical development programs for various therapeutics, including ivospemin (SBP-101) and Flynpovi.