XTL Biopharmaceuticals' delisting notice from NASDAQ causes stock price decline

Investing.com – XTL Biopharmaceuticals Ltd ADR (NASDAQ:XTLB) stock fell 8.3% in after-hours trading on Friday after the company received a delisting notice from the NASDAQ Stock Market.

The company received a letter from NASDAQ’s Listing Qualifications Department on Tuesday stating that staff believe XTL is a “shell company” and that continued listing is no longer appropriate under NASDAQ Listing Rule 5101. XTL said it plans to request a hearing before the NASDAQ Hearing Panel to appeal the delisting decision, which will temporarily halt the suspension and delisting process until the panel makes a decision.

NASDAQ pointed out that the company lacks operational business, citing previously disclosed information that its wholly owned subsidiary, The Social Proxy, has filed for bankruptcy proceedings in an Israeli court. On February 22, 2026, the court ordered the liquidation of The Social Proxy and appointed a trustee for the bankruptcy process.

The exchange noted that the company’s so-called shell status could pose a market abuse risk for U.S. depositary shares, and that buyers are unaware of what the company’s future operations will be.

NASDAQ also mentioned two additional compliance issues as separate grounds for delisting. On January 20, 2026, staff notified XTL that it failed to meet the minimum $2.5 million shareholders’ equity requirement. On December 20, 2025, the company was informed that its American Depositary Shares no longer meet the minimum $1 bid price requirement, and XTL is currently in a compliance period.

Unless XTL applies for a hearing before March 4, 2026, trading of the company’s American Depositary Shares will be suspended at the opening of NASDAQ Capital Market on March 6, 2026, and after submitting Form 25-NSE to the U.S. Securities and Exchange Commission, it will be delisted.

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