Opthea (ASX:OPT) notified Nasdaq that it plans to voluntarily delist its American depositary shares representing its ordinary shares, according to a Thursday Australian bourse filing.
Opthea no longer has an audit committee that meets Nasdaq's audit committee composition requirements. Concentrating trading on the Australian bourse will simplify governance, reduce expenditure, and align its structure with its operational and strategic priorities, per the firm.
It expects to file a Form 25 with the US Securities and Exchange Commission to effect the delisting on or about Nov. 10. Opthea anticipates that the last day of trading of its American depositary shares on Nasdaq will be on or about Nov. 19.