Aravive Shares Drop 53%, Company to Delist and Deregister Stock

Dow Jones01-18

By Stephen Nakrosis

Shares of Aravive were lower in after-hours trading following the company's announcement it would voluntarily delist its shares from the Nasdaq Global Select Market and deregister its common stock.

The Nasdaq delisting is expected to become effective on or about Feb. 8, the oncology company said.

After the bell Wednesday, the stock had fallen 53% to trade at five cents per share. The stock closed the day with a 1.8% loss at 11 cents. Over the last 52 weeks, Aravive shares have fallen by more than 93%.

The company said its board earlier this month approved the "transfer of all or substantially all of the company's assets through an assignment for the benefit of creditors and the voluntary dissolution and liquidation of the company."

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

January 17, 2024 17:35 ET (22:35 GMT)

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