Business & Investment

Designation (confirmation) of securities under supervision: MediciNova, Inc.

December 28, 2020 TSE
Designation (confirmation) of securities under supervision: MediciNova, Inc.

TSE has designated the issuance as a supervisory security (confirmation) as follows.

No. 1 name MediciNova, Inc.Stocks
(Code: 4875, Market: JASDAQ Standard (foreign stock))
Designated period as securities under supervision (confirmation) From December 28, 2020 (Monday) to the date when TSE determines whether it meets the delisting criteria.
Provisioning Enforcement Regulations of Securities Listing Regulations Rule 605, Paragraph 1, Item 25-3
(When a listed company announces that it is in the state stipulated in Paragraph 1, Paragraph 2, Paragraph 2 of the Listing Regulations (meaning the case based on Rule 604-3, Paragraph 1), etc.). However, if the exchange cannot determine if the company meets such provisions)
Reason reason MediciNova, Inc. (Hereinafter referred to as “the Company”) was negative in the last four fiscal years (FY12 / 15-FY12 / 2018). Today, we announced that we expect operating income and cash flow from our business activities to be negative for the fiscal year ending December 2020.
On November 18, 2020, we announced that we have applied for an examination based on the same criteria as the listing examination criteria. When TSE confirms that the Company does not meet the above criteria and, based on the securities report submitted by the Company, confirms that operating income and cash flow from business activities for the fiscal year ending December 2020 are negative. , The company will be delisted. Therefore, based on the announcement by the Company, TSE has determined that the shares are likely to be delisted and has designated them as supervisory securities (confirmation).
If TSE confirms that it meets the above criteria before submitting the securities report for the fiscal year ending December 2020, the designation of supervisory securities (confirmation) shall be cancelled.
TSE confirms that operating income and cash flow from business activities for the fiscal year ending December 2020 are negative based on the securities report for the relevant fiscal year submitted by the Company before completing the examination based on the above criteria. If this is the case, TSE will cancel the designation of the Company’s shares as supervisory securities (confirmation) and designate the shares as supervisory securities (examination).
  • The grace period for delisting will be two years in accordance with the provisions of Section 4 of the Supplementary Provisions of the Amendment to the Securities Listing Regulations on February 7, 2020.

Disclaimer: This translation is for reference purposes only. This English version is not an official translation of the original Japanese document. If there is a difference between the English version and the original Japanese version, the Japanese version will take precedence. This translation is subject to change without notice. The Tokyo Stock Exchange and / or the Japan Exchange Regulation shall not be liable individually or jointly for any damage or loss resulting from any errors, inaccuracies, misunderstandings, or changes relating to this translation.

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Designation (confirmation) of securities under supervision: MediciNova, Inc.

https://www.jpx.co.jp/english/news/1021/20201228-01.html Designation (confirmation) of securities under supervision: MediciNova, Inc.

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