XTL Biopharmaceuticals Ltd. received a Nasdaq Staff delist determination on February 25, 2026, deeming the company a 'public shell' due to the liquidation of its subsidiary The Social Proxy, with additional non-compliance on stockholders' equity and bid price rules. The company plans to request a hearing by March 4, 2026, to appeal and stay suspension of ADS trading scheduled for March 6, 2026.
Key takeaways
Nasdaq Staff Letter dated February 25, 2026, determines XTL as 'public shell' under Listing Rule 5101
The Social Proxy, wholly owned subsidiary, court-ordered liquidation on February 22, 2026
Prior notices: stockholders' equity non-compliance on January 20, 2026; bid price non-compliance on December 20, 2025
Hearing request due by March 4, 2026, to stay ADS suspension on March 6, 2026
ADSs trade on Nasdaq Capital Market (XTLB) and TASE (XTLB.TA)