SillaJen Faces Delisting Despite New Owner's Capital Injection

Shareholders Protest Exchange’s Decision

Oncolytic virus firm SillaJen, which hoped to get back on track and resume stock trading after it found a new owner last year, is set to be delisted from Korea’s Kosdaq market as the exchange makes a preliminary decision.

despair — Company Hopes To Vindicate Position At Upcoming Kosdaq Committee • Source: Alamy

2022 has begun with dismal news for investors in SillaJen, Inc. as the Korea Exchange has made a preliminary decision to delist the South Korean biotech’s stock from its Kosdaq bourse after a 12-month period for corporate reforms ended late last year.

The exchange reportedly made the decision as the company has failed to meet some of operational issues and the decision...