Luna Innovations Inc ( LUNA ) shares are trading lower by 45% to $1.12 Monday afternoon after the company announced its stock will be suspended from the Nasdaq.

What Else: Luna Innovations’ stock will delisted from Nasdaq after failing to meet the SEC’s March 2025 deadline for delinquent filings. The company anticipates its shares will trade on the OTC Expert Market following the suspension.

Despite the delisting, Luna emphasized that its business operations remain unaffected and that it continues to support customers and partners.

CEO Kevin Ilcisin acknowledged delays in the restatement process but highlighted operational improvements and key achievements in late 2024.

Luna says the company remains focused on delivering high-quality products and services. The company plans to share a business update later in January, including preliminary revenue and booking results for fiscal year 2024.

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According to data from Benzinga Pro, LUNA has a 52-week high of $7.92 and a 52-week low of $1.11.