Trump announces trade deal with EU following months of negotiations
BRISBANE, Calif. - Cutera, Inc. (NASDAQ:CUTR), a provider of aesthetic and dermatology solutions facing significant financial challenges with a market capitalization of just $2.58 million, has announced its decision to voluntarily delist its common stock from the Nasdaq Global Select Market. According to InvestingPro data, the company’s stock has declined by 95% over the past year amid mounting operational difficulties. The company anticipates submitting a Form 25 to the Securities and Exchange Commission (SEC) around March 20, 2025, with the delisting likely to take effect approximately ten days later, around March 30, 2025.
In a subsequent move, Cutera plans to file a Form 15 with the SEC, which will indefinitely suspend the company’s reporting obligations under the Securities Exchange Act of 1934. This suspension will include the cessation of filing Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, and will become effective immediately upon filing.
The company has not made arrangements for the common stock to be listed on another national securities exchange or to be quoted in any other quotation medium. As a result, there is no guarantee that a public market for trading Cutera’s common stock will continue to exist. InvestingPro analysis reveals the company’s challenging financial position, with a significant debt burden of $433.45 million and rapidly declining revenues, down 32.57% in the latest reporting period.
The information provided in this article is based on a press release statement from Cutera, Inc. The company’s forward-looking statements regarding its plans are not guarantees of future performance, and actual outcomes may differ materially due to various risks and uncertainties. These include the timing and results of the company’s ongoing proceedings under Chapter 11 and the impact of these proceedings on the listing of the company’s securities on Nasdaq.
Cutera has been a prominent player in the medical aesthetic technology field for over 25 years, focusing on science-driven solutions and partnerships. However, the decision to delist and suspend SEC reporting obligations marks a significant change in the company’s financial reporting and stock market presence. For deeper insights into Cutera’s financial health and detailed analysis, investors can access comprehensive Pro Research Reports available on InvestingPro, which covers over 1,400 US equities with expert analysis and actionable intelligence.
In other recent news, Cutera Inc has announced its decision to voluntarily delist its common stock from the NASDAQ Global Select Stock Market following its recent bankruptcy filing under Chapter 11 of the United States Bankruptcy Code. The NASDAQ’s Listing Qualifications Department has confirmed the delisting due to non-compliance with specific listing rules. Cutera’s stock trading is set to be suspended on March 13, 2025, with a Form 25-NSE to be filed with the SEC to officially remove the stock from NASDAQ. The company has indicated that it will not appeal the delisting decision. Additionally, Cutera has undergone changes in its board of directors, with Jeri Hilleman resigning and Paul Wierbicki being appointed as her replacement. Wierbicki will receive a monthly fee for his board service and has no material interest in any transactions with the company. These developments reflect Cutera’s strategic response to its financial situation and compliance with regulatory requirements.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.