Vincerx Pharma (VINC, Financial) has disclosed plans to voluntarily delist its shares from Nasdaq. The company intends to file a Form 25 Notification of Delisting with the Securities and Exchange Commission on or about April 28, following a decision by its board to dissolve and liquidate the business.
This move comes after Vincerx received a notification from Nasdaq on April 14, stating its non-compliance with Nasdaq Listing Rule 5550. The rule requires a minimum bid price of $1.00 per share, which Vincerx's stock had failed to meet for 30 consecutive business days. Consequently, Nasdaq is set to suspend trading of Vincerx’s common stock on April 23.
Without eligibility for a compliance period, Vincerx has opted not to contest Nasdaq's determination. The board has decided that liquidating the company and distributing any remaining assets to stockholders is in their best interest. The company does not plan to seek listing on another national securities exchange or any other market.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for Vincerx Pharma Inc (VINC, Financial) is $200.00 with a high estimate of $200.00 and a low estimate of $200.00. The average target implies an upside of 72,627.27% from the current price of $0.28. More detailed estimate data can be found on the Vincerx Pharma Inc (VINC) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Vincerx Pharma Inc's (VINC, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
