PHILADELPHIA, PA — Carisma Therapeutics Inc. (OTCID: CARM) plans to voluntarily delist its common stock from the Nasdaq Stock Market and deregister its shares with federal regulators, accelerating its withdrawal from public reporting requirements as the company moves toward an orderly wind-down.
The Board of Directors approved the decision as the company continues to address long-standing compliance issues. Carisma previously failed to meet Nasdaq’s minimum bid price, market value of listed securities, and public float requirements, triggering a delisting determination letter on October 9, 2025. Trading in the company’s stock was suspended at the market open on October 13, and shares began trading the same day on the OTCID tier under the symbol CARM.
Although Nasdaq had indicated it would file a Form 25 once appeal periods expired, Carisma opted to initiate the process itself. The company expects to file the Form 25 with the Securities and Exchange Commission around December 15, with formal delisting becoming effective roughly 10 days later.
After the Nasdaq delisting, Carisma plans to file a Form 15 to suspend and ultimately terminate its reporting obligations under the Securities Exchange Act of 1934. Deregistration is expected to take effect 90 days after that filing. The company stated that all related SEC documents will be posted on its website.
Directors said the decision to expedite the delisting was influenced by Nasdaq’s earlier determination letter, the anticipated regulatory filings, and the company’s plan to wind down operations.
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