n an effort to cut costs, Ore Pharmaceutical Holdings Inc. has filed to terminate its common stock registration and free the Cambridge pharmaceuticals asset management company from obligations to file reports with the U.S. Securities and Exchange Commission.
Ore Pharmaceutical said in a press release today that its board of directors has approved the action and that the company expects to save money associated with the SEC reports by no longer accumulating legal, accounting and compliance costs.
The company, which has less than 300 shareholders, noted that it plans to keep a public listing on the OTC Pink Sheets market.
In April, Ore Pharmaceutical’s stock was removed the Nasdaq Stock Market after failing to comply with rules requiring a $1 minimum bid price for 30 consecutive business days.
Ore Pharmaceutical Holdings uses third-party financing to fund interests in pharmaceutical industry assets “we can significantly enhance through targeted development, with the goal of then monetizing these assets via sale or out-licensing,” Ore reports on its website.
Ore Pharmaceutical said in a press release today that its board of directors has approved the action and that the company expects to save money associated with the SEC reports by no longer accumulating legal, accounting and compliance costs.
The company, which has less than 300 shareholders, noted that it plans to keep a public listing on the OTC Pink Sheets market.
In April, Ore Pharmaceutical’s stock was removed the Nasdaq Stock Market after failing to comply with rules requiring a $1 minimum bid price for 30 consecutive business days.
Ore Pharmaceutical Holdings uses third-party financing to fund interests in pharmaceutical industry assets “we can significantly enhance through targeted development, with the goal of then monetizing these assets via sale or out-licensing,” Ore reports on its website.
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