Sinovac Biotech (SVA) said late Thursday it received a notification from Nasdaq informing the Chinese biopharmaceutical company of non-compliance with a listing rule related to the delayed filing of its 2024 annual report.
The company has until July 15 to submit a plan to regain compliance. If Nasdaq accepts the plan, Sinovac could be granted an extension until Nov. 11 to regain compliance.
The company's audit committee is "actively searching" for a new auditor following the previously disclosed resignation of Grant Thornton Zhitong Certified Public Accountants.
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