SVRN shares dropped 8% to $27.01 after the company confirmed receipt of a letter from the exchange indicating it no longer meets mandatory listing requirements. The news places the firm under immediate scrutiny as it attempts to navigate its standing on the market.
In section Market Quotes
Nasdaq Delisting Notice Hits SVRN as Inovio Surges
A turbulent Friday after-hours session saw SVRN face a potential delisting from the Nasdaq, while Inovio Pharmaceuticals staged a dramatic rally following a regulatory win. Investors simultaneously continued their retreat from Intel, underscoring a volatile close for the week across disparate corners of the market.
In contrast, Inovio Pharmaceuticals saw its valuation nearly quadruple, climbing to $2.21. This surge followed the Food and Drug Administration granting accelerated approval for the company's treatment, Voceryq. Meanwhile, Intel struggled to regain momentum, sliding another 1.5% to $64.77. This decline follows a significant 29% collapse during regular trading hours, triggered by an earnings report that failed to satisfy market expectations.
Comments (0)
No comments yet. Be the first!