JAPAN EXCHANGE GROUP, INC. TSE has designated an issue as Securities Under Supervision (Confirmation) as follows.
| １．Issue Name |
MediciNova, Inc. stock (Code: 4875, Market: JASDAQ Standard (Foreign Stock)) |
| ２．Period of Designation as Securities Under Supervision (Confirmation) | From Dec. 28, 2020 (Mon.) until the date when TSE determines whether such issue meets the delisting criteria. |
| Provision |
Enforcement Rules for Securities Listing Regulations Rule 605, Paragraph 1, Item 25-3 (Due to a case where a listed company has made an announcement that it is in the state defined by Rule 604-2, Paragraph 1, Item 2 of the Securities Listing Regulations (meaning cases pursuant to Rule 604-3, Item 1 of the aforementioned regulations), etc. but where the Exchange cannot determine whether the company meets such provisions) |
| ３．Reason |
MediciNova, Inc. (hereinafter 'the Company') has been placed in a grace period pertaining to delisting* , because the operating income and cash flow from business activities for the four most recent consolidated accounting years (the fiscal year ended Dec. 2015 through the fiscal year ended Dec. 2018) were negative. Today, the Company has announced that the operating income and cash flow from business activities for the fiscal year ending Dec. 2020 are expected to be negative. The Company announced that it had made an application as of Nov. 18, 2020 JST for an examination to be conducted in accordance with criteria equivalent to the initial listing examination criteria. If TSE determines that the Company fails to meet said criteria and also confirms that the operating income and cash flow from business activities for the fiscal year ending Dec. 2020 are negative based on the securities report to be submitted by the Company, the stock of the Company will be delisted. As such, TSE deems that said stock is likely to be delisted based on the Company's announcement and designates the stock as Securities Under Supervision (Confirmation). If TSE confirms that the Company meets said criteria before the Company submits the securities report for the fiscal year ending Dec. 2020, the designation as Securities Under Supervision (Confirmation) will be cancelled. If TSE confirms, before completing the examination in accordance with said criteria, that the operating income and cash flow from business activities for the fiscal year ending Dec. 2020 are negative based on the securities report for said fiscal year to be submitted by the Company, TSE will cancel the designation of the stock of the Company as Securities Under Supervision (Confirmation) and designate said stock of the Company as Securities Under Supervision (Examination). |
- The grace period pertaining to delisting will be two (2) years pursuant to the provisions of Paragraph 4 of the Supplementary Provisions of the Feb. 7, 2020 amendment to the Securities Listing Regulations.
Designation History of Securities Under Supervision & Securities to Be Delisted
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Japan Exchange Group Inc. published this content on 28 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 December 2020 23:24:02 UTC
