VBI Vaccines Inc. ("VBI" or the "Company") (Nasdaq: VBIV) (TSX:VBV), a commercial-stage biopharmaceutical company developing next-generation infectious disease and immuno-oncology vaccines, today announced that it has applied to voluntarily delist its common shares (the "Shares") from the Toronto Stock Exchange (the "TSX").
After careful consideration, the Board of Directors of the Company decided to voluntarily delist from the TSX due to the very limited trading activity of the Company's Shares on the TSX, which no longer justifies the financial and administrative costs and effort required to maintain a dual-listing. Additionally, while the Company will continue to have a significant operational presence in Ottawa, Canada, delisting from the TSX will create a central marketplace for VBI Shares on the NASDAQ. The Company believes this will ultimately benefit the long-term liquidity and shareholder value of VBI.
The Shares will continue to be listed and traded on NASDAQ, under its current symbol "VBIV", and the Company's Canadian shareholders will be able to continue to trade through their brokers on that exchange.
The TSX has confirmed that VBI's Shares will be delisted from the TSX, effective at the close of trading on March 23, 2018.