Intellipharmaceutics International Inc. said its common shares will trade on the OTCQB Venture Market under the IPCI symbol beginning March 21.
Meanwhile, the company's shares will be suspended from trading on Nasdaq effective at the open of business March 21. The suspension was due to noncompliance with the stock market's $1 bid price listing requirement.
The company's trading status on the Toronto Stock Exchange is not affected by its noncompliance with Nasdaq's listing rules, Intellipharmaceutics noted.
Toronto-based Intellipharmaceutics develops and manufactures controlled-release and targeted pharmaceutical products, with a particular focus in the opioid abuse deterrence segment.