TLDR
- ADAP crashes 69% as board confirms Nasdaq delisting and SEC deregistration.
- Nasdaq delisting triggers stock collapse and strategic shift at Adaptimmune.
- Adaptimmune (ADAP) exits Nasdaq, stock drops sharply amid restructuring.
- ADAP stock nosedives after the board approves exit from public listing.
- ADAP to delist from Nasdaq; shares plunge amid cost-cutting move.
Adaptimmune Therapeutics(ADAP) shares plummeted nearly 69.5% to $0.0611 after the company confirmed plans to delist its shares from Nasdaq.
Adaptimmune Therapeutics plc, ADAP
The sharp decline followed an announcement that the Board approved filing for voluntary delisting and deregistration. The move signaled a major shift in strategy as Adaptimmune aims to reduce costs and restructure after its transaction with US WorldMeds.
Board Initiates Nasdaq Delisting and Deregistration
ADAP announced that its Board authorized the voluntary delisting of its American Depositary Shares from Nasdaq. The company plans to file Form 25 with the U.S. Securities and Exchange Commission around October 28, 2025. Following Nasdaq’s confirmation, trading is expected to be suspended after the market closes on or about October 27, 2025.
ADAP stated that it will deregister its shares under Section 12(b) of the Exchange Act. The deregistration is expected to take effect 90 days after the filing date. The company intends to submit Form 15 to suspend its reporting obligations, including quarterly and annual filings.
The Board emphasized that delisting and deregistration will help eliminate expenses associated with SEC compliance. The company cited rising costs tied to public company operations, including audit, legal, and Sarbanes-Oxley Act compliance. The decision reflects Adaptimmune’s strategic focus on preserving capital while pursuing value from its remaining assets.
Company Cites Strategic Shift and Cost Management
ADAP explained that the delisting decision aligns with its ongoing restructuring after the July 2025 transaction with US WorldMeds. The company transferred key assets to the partner and continues to optimize its remaining programs targeting PRAME and CD70. This transition underscores a shift toward operational efficiency and focused asset management.
ADAP highlighted that delisting will reduce financial and administrative burdens. Management believes that operating as a private entity offers greater flexibility for long-term decision-making. The company aims to redirect resources toward research and asset development rather than regulatory reporting costs.
After delisting, ADAP expects its ADSs to trade on the OTC Pink Limited Market. The company warned that continued trading depends on market makers’ participation. There remains uncertainty about liquidity or sustained trading activity once the shares leave Nasdaq.
Compliance Issues and Market Impact
Nasdaq granted ADAP an exception period to regain compliance with the $1.00 bid price rule. The company had until December 1, 2025, to meet the minimum requirement. The Board chose voluntary delisting before the compliance deadline, marking a decisive step away from the exchange.
The stock’s 69.5% crash followed the announcement, reflecting concerns over future accessibility and liquidity. ADAP shares remained flat after the early decline, indicating limited market reaction post-announcement. The move effectively signals the end of its Nasdaq presence after years of trading under pressure.
Through this delisting, ADAP seeks to streamline operations and refocus its business strategy. The company maintains that the action aligns with its goal to maximize residual asset value. While the stock faces uncertainty in the OTC market, the management remains intent on executing its restructuring plan efficiently.
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