Looks like it’s official: InSite Vision’s stock is being delisted from the New York Stock Exchange. The delisting is effective as of Monday. Per a press release from the company on Business Wire:
InSite Vision Incorporated (NYSE AMEX: ISV) today announced that the NYSE AMEX Listings Qualifications Panel (the “Panel”) has denied the company’s appeal, affirming the previous decision to delist InSite Vision’s common stock from the NYSE AMEX LLC* (the “Exchange”) effective with the open of trading business on April 20, 2009.
Upon delisting from the Exchange, the company expects that its common stock will be eligible for trading on the Over-the-Counter Bulletin Board (OTCBB) or the Pink OTC Markets, Inc. InSite Vision will notify investors of trading venue information for its common stock once such information is available.
“InSite Vision possesses solid fundamentals, with a revenue-generating commercial product, a late-stage product candidate in development, a proven platform technology and a clear and well-defined strategy in place. While we are disappointed with the outcome of this hearing, we remain focused on the execution of our business objectives,” said Louis Drapeau, InSite Vision’s Chief Executive Officer.