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LONDON - Achilles Therapeutics plc (NASDAQ:ACHL), a biopharmaceutical company with a market capitalization of $56.7 million, has announced its plan to voluntarily delist its American Depositary Shares (ADSs) from the Nasdaq Stock Market. According to InvestingPro data, the company holds more cash than debt and maintains a healthy current ratio of 6.04, though it’s been quickly burning through its cash reserves. The move is part of the company’s preparations for a proposed members’ voluntary liquidation, pending shareholder approval at a General Meeting scheduled for March 20, 2025.
The notification to Nasdaq is set to be formalized with a Form 25 filing on March 10, 2025, with the company’s last day of trading on the exchange expected to be March 20, 2025. Despite its impending delisting, the stock has shown strong momentum, with InvestingPro reporting a remarkable 93% price return over the past six months. Post-delisting, any trading in Achilles Therapeutics’ ADSs would be limited to privately negotiated transactions or possibly on an over-the-counter market, contingent upon whether a broker-dealer elects to facilitate such a market.
In conjunction with the delisting, Achilles Therapeutics is also aiming to deregister its ADSs from the Securities and Exchange Commission (SEC). This process will begin with the filing of a Form 15 around March 20, 2025. Once filed, the company’s obligation to file periodic reports with the SEC, such as Forms 20-F and 6-K, will be suspended immediately and will officially cease 90 days after the Form 15 filing.
The company’s decision to delist and deregister follows the standard procedure for a firm entering voluntary liquidation. With an Altman Z-Score of 1.64 and negative EBITDA of -$67.23 million in the last twelve months, the financial metrics from InvestingPro highlight the challenges facing the company. The press release includes forward-looking statements that are based on management’s current beliefs and assumptions and are subject to risks and uncertainties. These could potentially affect the company’s plans and differ materially from future actions. Unlock 10+ additional ProTips and comprehensive financial analysis with InvestingPro to make more informed investment decisions.
Investors should note that the information regarding Achilles Therapeutics’ intent to delist and deregister its securities is based on a press release statement. The company has expressed no intention of updating these forward-looking statements, except as required by law.
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