PRINCETON - Agile Therapeutics, Inc. (NASDAQ:AGRX), a women's healthcare company, is set to be delisted from the Nasdaq Capital Market due to non-compliance with the minimum stockholders' equity requirement. The company's common stock will cease trading on Nasdaq at the opening of the market today and will begin trading over the counter (OTC) operated by the OTC Markets Group Inc.
The delisting follows Agile Therapeutics' inability to meet the Nasdaq Listing Rule 5550(b)(1), which mandates a minimum stockholders’ equity of $2.5 million. The company's common stock will be quoted and traded on the OTC Market, retaining its ticker symbol AGRX. Agile Therapeutics has also applied for trading on the OTC-QB market.
Despite the transition, Agile Therapeutics anticipates no impact on its business operations and remains committed to executing its business plan. The company intends to continue exploring strategic opportunities to maximize the growth of Twirla, its non-daily prescription contraceptive, and to enhance shareholder value.
Agile Therapeutics will maintain its SEC registration under the Exchange Act and will keep filing reports, which will be accessible on the SEC's website. This move is in accordance with Nasdaq Listing Rule 5810(b), necessitating prompt disclosure of a delisting determination.
Agile Therapeutics specializes in developing contraceptive options for women that offer an alternative to daily pills or longer-acting methods. The company's product, Twirla, utilizes their proprietary Skinfusion technology to deliver medication through the skin.
This announcement is based on a press release statement, and further details on the company and its products can be found on its official website.
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