Sinovac Biotech Ltd. (NASDAQ: SVA) received a delisting determination from Nasdaq on May 22, 2026, after failing to file its 2025 annual report on time, according to a company statement.

The biotech company had previously regained compliance with Nasdaq listing requirements in May 2026 by filing its 2024 annual report and interim financial statements. However, Nasdaq placed the company under a one-year monitoring period following the earlier filing delays.

Under the monitoring arrangement, any subsequent violation of periodic filing rules would trigger immediate delisting proceedings. The company's failure to submit its annual report on Form 20-F for the year ended December 31, 2025, by the required deadline constituted such a violation.

Sinovac requested a hearing before Nasdaq's panel to contest the delisting determination. The hearing request automatically suspends any delisting action for 22 calendar days from May 22, 2026. The company also sought an extended stay pending completion of the hearing process.

If Sinovac had not requested the hearing by May 29, 2026, its securities would have been subject to immediate suspension and delisting from the Nasdaq exchange.

The Chinese biopharmaceutical company develops and manufactures vaccines for infectious diseases, including influenza, hepatitis, and COVID-19. Sinovac's CoronaVac vaccine became widely distributed globally during the pandemic.

The company had faced previous compliance issues with Nasdaq's periodic filing requirements, leading to the initial panel decision in January 2026 that required completion of overdue financial filings by May 11, 2026.