InnoCan Pharma abruptly cancels NYSE American listing after sharp stock decline
InnoCan Pharma has cancelled its planned listing on the NYSE American. The move comes after months of delays and a sharp decline in its share price. The company had originally intended to begin trading on the U.S. stock market on February 23, 2026.
The withdrawal was officially filed with the SEC on the same day trading was set to start. This followed two earlier postponements of the listing date. Just three weeks prior, the SEC had approved the company's registration, but no shares were ever sold under the proposed offering.
The decision leaves InnoCan's existing listings on the Canadian Securities Exchange (CSE) and the Frankfurt Stock Exchange unaffected. In August 2025, the firm had carried out a 1-for-65 reverse stock split to meet the NYSE American's minimum share price rules. Despite this, the company's stock on the CSE fell heavily, dropping 45.05% since the start of 2026.
By December 16, 2025, shares were trading at 7.50 CAD, far below their 52-week high of 15.44 USD. InnoCan has not publicly explained why it abandoned the listing. The cancellation also voids the previously submitted Form F-1 registration statement.
The company had planned to raise capital through the NYSE American listing. With the withdrawal, its future funding strategy remains uncertain.
The withdrawal leaves InnoCan without a U.S. stock market presence. The firm's next steps for financing and growth are now unclear. Investors will likely watch closely for updates on its revised capital plans.
