Business Context and Reporting Period
This Form 6-K filing by Anchiano Therapeutics Ltd. (referred to as Chemomab Therapeutics Ltd. in metadata) covers the month of March 2019, specifically dated March 14, 2019. The filing announces a voluntary delisting of the Company's Ordinary Shares from the Tel Aviv Stock Exchange (TASE).
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and share trading status rather than financial performance.
Material Changes
- Delisting from TASE: The Company has requested the TASE to initiate the delisting process for its Ordinary Shares. The last trading day on the TASE is June 13, 2019, with delisting effective June 17, 2019.
- Continued Nasdaq Listing: American Depositary Shares (ADSs), each representing five Ordinary Shares, will continue to trade on the Nasdaq Capital Market under the symbol "ANCN."
- Share Conversion Incentives: The Company will cover conversion fees for shareholders converting Ordinary Shares to ADSs on or before May 13, 2019. Additionally, no conversion fees will be charged by the depositary (Bank of New York Mellon) for 90 days following the press release.
Outlook, Risks, and Management Commentary
Management, represented by CEO Dr. Frank G. Haluska, confirmed the Company will continue to file public reports and make disclosures in accordance with U.S. SEC and Nasdaq rules. The primary risk highlighted is the cessation of trading on the TASE, requiring shareholders to convert holdings to ADSs to maintain liquidity on U.S. markets. No specific financial risks or contingencies regarding operations were detailed in this text.
Investor Verification Checklist
- Verify the conversion ratio of Ordinary Shares to ADSs (5:1).
- Confirm the deadline for fee-free conversion (May 13, 2019).
- Check the final trading date on the TASE (June 13, 2019).
- Ensure brokerage accounts are updated to hold ADSs under symbol "ANCN" post-delisting.