Delisting Determination, The Nasdaq Stock Market, LLC, August 5, 2025
PaxMedica, Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the security of PaxMedica, Inc.effective at the opening
of the trading session on August 18, 2025.Based on review of information
provided by the Company, Nasdaq Staff determined that the Company no
longer qualified for listing on the Exchange pursuant to Listing Rule
5550(b)(2).The Company was notified of the Staff determination on
June 12, 2023. On June 20, 2023 the Company exercised its right
to appeal the Staff determination to the Listing Qualifications Hearings
Panel (Panel) pursuant to Listing Rule 5815. On August 10, 2023,
the hearing was held. On August 14, 2023 the Panel reached a decision
and a Decision letter was issued on August 16, 2023. On January
12, 2024 Staff issued an Additional Staff Delist Determination
Letter because the Company fell out of compliance with Listing Rule
5550(a)(2) within the time it was under a Panel Monitor pursuant
to Listing Rule 5815(d)(4)(A) and as mentioned in the Hearing Panel
decision dated December 20, 2023. On April 30, 2024, the Panel
reached a decision and decided to suspend the Company from the
Exchange. The Company security was suspended on May 2, 2024. The
Staff determination to delist the Company security became final
on July 19, 2024.