NeuBase Therapeutics stock is one of those tickers that still pops up on certain quote screens in late 2025 – but in reality, it isn’t a “normal” stock anymore. As of Sunday, November 23, 2025, NeuBase is a dissolved biotech in legal wind‑down, its common shares delisted and largely cashed out through liquidation payments and a non‑tradable escrow structure. [1]
Below is a deep, investor‑focused look at what NBSE actually represents today, what happened in 2024–2025, and what, if anything, existing shareholders can still reasonably expect.
Key takeaways for NBSE on November 23, 2025
- NeuBase is no longer an operating Nasdaq biotech. The company filed a Certificate of Dissolution effective June 26, 2024, initiating a complete liquidation and dissolution under Delaware law. [2]
- Trading in NBSE was suspended and the stock was delisted from Nasdaq in May 2024. Nasdaq filed a Form 25 to remove the listing on May 16, 2024, and the company itself now reports that no securities are listed on any exchange. [3]
- Shareholders received an initial cash distribution of $0.13 per share, approved by the board on January 2, 2025, and paid to stockholders of record as of June 26, 2024. [4]
- Brokerage corporate‑action notices in March 2025 show the final structure: each old NBSE share was exchanged for $0.13 in cash plus one non‑tradable liquidation escrow share, reflecting any potential future distributions. [5]
- Some data vendors still display a “price” near $0.38 for NBSE, usually referencing the last closing trade in May 2024 – but there is no active market, no volume and no investable listing today. [6]
Where NeuBase stands today (Sunday, November 23, 2025)
U.S. stock markets are closed on Sundays, but even when they are open, NBSE is not trading like a normal stock anymore.
On June 26, 2024, NeuBase filed a Certificate of Dissolution with Delaware’s Secretary of State. The filing explicitly states that the company is undergoing complete liquidation and dissolution under Delaware’s General Corporation Law, and will exist only for at least three years to wind down legacy obligations and distribute any remaining assets to stockholders. [7]
The same filing notes that NeuBase common stock “will no longer be assignable or transferable” on the company’s books except in very narrow situations (such as inheritance). In practical terms, that means no new investors can buy NBSE in the usual way, even if a quote still appears in a broker’s app. [8]
By early 2025, NeuBase had also:
- Terminated its headquarters lease, leaving it with no physical office. [9]
- Confirmed via SEC filings that no securities are listed on an exchange, following Nasdaq’s prior delisting action. [10]
From a market‑data standpoint:
- Futu’s U.S. quote page for NBSE shows a last closing price of $0.378 on “May 10, 16:00 ET”, but no subsequent chart data and no live order flow, signalling that trading effectively stopped at that point. [11]
- StockTwits and news aggregators still show NeuBase at around $0.378 with a market cap of roughly $1.4 million, but again with essentially no ongoing trading activity. [12]
- MarketBeat labels NeuBase as “potentially delisted and may not be actively trading” in its NBSE pages and sentiment tools. [13]
So as of November 23, 2025, there is no reliable “NBSE stock price today” in the usual sense. Any price you see near $0.38 is historical rather than a live, tradeable quote.
What actually happened: NeuBase’s dissolution and delisting timeline
To understand NBSE’s odd status today, it helps to walk through the key milestones that led here.
2022–2023: From gene‑editing promise to strategic alternatives
NeuBase was originally a pre‑clinical genetic‑medicine company built around its PATrOL™ / Stealth Editors™ platforms, which use peptide‑nucleic acid chemistry to modulate gene function without relying on CRISPR‑Cas9. [14]
However, the company struggled to fund the long, expensive path to the clinic:
- In October 2022, NeuBase announced a 60% workforce reduction and a strategic restructuring to stretch its cash runway while pivoting fully to gene editing. [15]
- On August 3, 2023, the board halted development of all programs and launched a formal review of “strategic alternatives” – including a possible merger, acquisition or other transaction – to maximize shareholder value. [16]
Despite some interest from activist investors (including a 2023 Schedule 13D and public letters urging a special dividend), no rescue deal emerged. [17]
Early–mid 2024: Plan of liquidation, Nasdaq issues and shareholder vote
When no buyer materialized, NeuBase pivoted from “strategic alternatives” to outright wind‑down:
- February–March 2024: NeuBase filed an 8‑K and a Plan of Liquidation and Dissolution, laying out its intention to completely liquidate and dissolve the company under Section 281(b) of Delaware law. [18]
- March 26–27, 2024: News of the planned liquidation sent NBSE stock tumbling; coverage highlighted that shareholders were now mainly betting on how much cash would be left after debts and wind‑down costs. [19]
- April–May 2024: Nasdaq notified NeuBase that it no longer met listing standards and later announced the securities would be suspended and delisted, a process also tracked by data providers like Futu. [20]
- June 26, 2024: Shareholders formally approved the dissolution. That same day, NeuBase filed its Certificate of Dissolution, which became effective immediately and triggered the three‑year statutory wind‑down period. [21]
From that effective date, NeuBase existed essentially as a liquidation trust in corporate form: no real operations, just a slowly shrinking pot of cash and any residual assets or liabilities.
2025: Plan of Distribution and the $0.13 per‑share payout
The most important event for shareholders in 2025 came via a Form 8‑K filed on January 7, 2025:
- On January 2, 2025, NeuBase’s board approved a Plan of Distribution, the next step in carrying out the earlier Plan of Dissolution. [22]
- The filing disclosed that NeuBase would pay an initial cash distribution of approximately $500,000, equal to $0.13 per share, to stockholders of record as of June 26, 2024 (the dissolution date). [23]
Brokerage corporate‑action trackers then show how that decision flowed through to individual accounts:
- Robinhood’s corporate‑actions page records a CUSIP change and partial liquidation at $0.13 per share on March 21, 2025. [24]
- Stockpile’s corporate‑action log notes that, as of March 28, 2025, NBSE was delisted due to company dissolution and that holders would receive $0.13 in cash and one non‑tradable escrow share for every NBSE share previously held. [25]
Meanwhile, some data providers list a separate tag – NBSE.ESC – representing the “NeuBase Therapeutics Inc. Liquidation Escrow”. Quote pages show a price of 0.000 with zero volume, underscoring that this is purely an accounting stub, not a tradeable security. [26]
Does NBSE have a “stock price” today?
Short answer: not in a way that matters to new investors.
You will still find numbers attached to NBSE in a variety of places:
- Futu, StockTwits, StockTitan and InsideArbitrage all show a last price around $0.378–$0.38 and a micro‑cap market value of about $1.4 million – but with no updated trades after mid‑2024. [27]
- Some algorithmic “price prediction” sites continue to publish 2025 forecasts, projecting NBSE to trade in a $0.366–$0.378 range for 2025, despite the company’s dissolution and delisting. [28]
These numbers can be misleading:
- They are largely frozen snapshots of the last pre‑delisting trades, not live prices you can transact at today. Futu’s own NBSE page explicitly shows “Close May 10 16:00 ET” with “No Data” for real‑time chart or order flow. [29]
- Delaware law and NeuBase’s dissolution filings make clear that the common stock ceased to be transferable on the company’s books as of June 26, 2024, except in limited legal circumstances. [30]
- MarketBeat and similar tools flag NBSE as “potentially delisted and may not be actively trading”, warning users not to treat it like a normal ticker. [31]
In other words, any “NBSE price” shown on November 23, 2025 is best thought of as a historical relic. It does not reflect an investable, liquid market today.
What news is actually “current” on November 23, 2025?
If you search for NeuBase in late November 2025, you mostly find recaps rather than new corporate events:
- A specialist trading site, TechStock², features a November 23, 2025 piece describing NeuBase as sitting in a “very unusual” place: still quoted under the NBSE ticker on some platforms even though the company has been dissolved and its assets largely distributed. TechStock²
- MarketWatch’s earlier coverage of the June 27, 2024 Form 8‑K remains the key public summary of the dissolution: the certificate of dissolution, approval dates, and the three‑year wind‑down period. [32]
- StreetInsider’s January 7, 2025 8‑K breakdown is still the main reference for the $0.13 per‑share Plan of Distribution and the subsequent leadership changes during the wind‑down. [33]
What you don’t see in November 2025 is:
- New drug‑development milestones
- Fresh financing rounds
- Earnings releases or updated guidance
That’s because NeuBase is no longer an operating biotech. The “news” now is entirely about how the last bits of value are being (or have been) distributed, not about any ongoing business.
The liquidation mechanics: cash distribution and the escrow share
For existing shareholders, two elements matter:
- The cash you already received (or were entitled to)
- The January 2025 8‑K commits to an initial distribution of about $500,000, equal to $0.13 per share, to investors who were on the books as of June 26, 2024. [34]
- Broker corporate‑action notices in March 2025 confirm that this payment flowed through to retail accounts as a liquidation dividend / liquidation payment at $0.13 per share. [35]
- The non‑tradable liquidation escrow share (NBSE.ESC)
- For every old share of NBSE, holders received one “liquidation escrow” share, often shown under tickers like NBSE.ESC, with a quote of 0.000, no volume, and no financials. [36]
- In typical corporate liquidations, such escrow units represent a contingent claim on any additional cash that might be distributed if, after paying all creditors, litigation and expenses, there is something left. The NeuBase Plan of Liquidation and related filings indicate the intent to gradually dispose of assets, discharge obligations and distribute any remaining assets to stockholders during the wind‑down period, which fits this pattern, though they don’t guarantee any further payout. [37]
There is no public guidance on whether further distributions are likely, or how large they could be. Given NeuBase’s tiny cash balance, wind‑down costs and a multi‑year timeline, investors should view any additional payout as speculative and probably modest.
If you still see NBSE or NBSE.ESC in your account, what should you do?
This isn’t personalized financial advice, but here are general steps many investors consider with a liquidating micro‑cap like NeuBase:
- Read the corporate‑action notices in your brokerage
- Look up the March 2025 liquidation entries (for example, the $0.13 per‑share payment and arrival of an escrow position) and save those records for tax and documentation purposes. [38]
- Clarify the status of your escrow units
- Ask your broker how they classify NBSE.ESC (or its equivalent) and whether they will automatically process any future distributions without further action from you. The escrow units themselves are not tradeable, so they mainly function as a digital “claim check.”
- Consider tax implications
- U.S. liquidation payments can be treated similarly to a sale of stock for tax purposes, but actual treatment depends on your cost basis, holding period and jurisdiction. A tax professional can help you decide how to report the $0.13 distribution and any eventual additional payments.
- Avoid treating NBSE as a speculative trade in 2025
- With the stock delisted, dissolved and non‑transferable, treating NBSE like an ultra‑cheap meme stock is essentially a category error: you can’t just “buy a bunch at 38 cents” and hope for a bounce because there is no functioning market. [39]
Lessons from NeuBase’s collapse for micro‑cap biotech investors
NeuBase’s journey from high‑concept gene editing to liquidation is unfortunately common in small‑cap biotech, and it highlights several broader themes:
- Platform promise vs. funding reality
Stealth Editors™ and PATrOL™ attracted interest as potentially safer, redosable gene‑editing tools, but pre‑clinical platforms burn cash for years before revenue. Without deep-pocketed partners or sustained market access, even promising platforms can end at zero for equity holders. [40] - Reverse splits and delisting risk are loud warning signs
Before liquidation, NeuBase went through a 1‑for‑20 reverse split in 2023 and then fell back below Nasdaq’s minimum bid price, triggering deficiency notices and, eventually, delisting. [41] - “Strategic alternatives” can mean “endgame”
When a micro‑cap biotech announces it is halting all programs to explore strategic alternatives and, months later, files a plan of dissolution, the focus shifts from growth to salvaging remaining cash. That’s the point at which many professional investors write off the equity and simply monitor liquidation distributions. [42]
For current or would‑be biotech investors, NeuBase is a reminder to:
- Track cash runway and debt as carefully as scientific news
- Treat reverse splits and repeated delisting warnings as serious risk signals
- Recognize that once a dissolution plan is filed, “upside” is capped by whatever sits in the bank after liabilities
Bottom line on NBSE stock today
On November 23, 2025, NeuBase Therapeutics is best understood as a liquidating shell, not as a penny‑stock biotech:
- The operating company is gone, with no active R&D or commercial programs.
- The Nasdaq listing is gone, and ordinary transfers of the common stock are no longer allowed.
- Most of the economic story now consists of a $0.13 per‑share cash distribution already paid, plus a thin, uncertain residual claim via non‑tradable escrow units.
If NBSE or NBSE.ESC still shows up in your portfolio, it’s a legacy clean‑up situation, not a fresh opportunity. Your next steps are less about trading strategy and more about documentation, tax treatment and realistic expectations for any small, future liquidation drips that may or may not arrive.
References
1. www.marketwatch.com, 2. www.marketwatch.com, 3. www.futunn.com, 4. www.streetinsider.com, 5. help.stockpile.com, 6. www.futunn.com, 7. www.marketwatch.com, 8. www.marketwatch.com, 9. www.streetinsider.com, 10. www.streetinsider.com, 11. www.futunn.com, 12. stocktwits.com, 13. www.marketbeat.com, 14. www.biospace.com, 15. globalgenes.org, 16. globalgenes.org, 17. www.biospace.com, 18. www.sec.gov, 19. investorplace.com, 20. www.futunn.com, 21. www.marketwatch.com, 22. www.streetinsider.com, 23. www.streetinsider.com, 24. robinhood.com, 25. help.stockpile.com, 26. www.moomoo.com, 27. www.futunn.com, 28. coincodex.com, 29. www.futunn.com, 30. www.marketwatch.com, 31. www.marketbeat.com, 32. www.marketwatch.com, 33. www.streetinsider.com, 34. www.streetinsider.com, 35. help.stockpile.com, 36. help.stockpile.com, 37. www.sec.gov, 38. help.stockpile.com, 39. www.marketwatch.com, 40. www.biospace.com, 41. support.tradelogsoftware.com, 42. www.globenewswire.com
