A technology company based in Roanoke is one step closer to being removed from the Nasdaq Stock Market.
Luna Innovations Inc., which develops fiber-optic sensing and monitoring devices for transportation, energy and other markets, has failed to file either a 2023 annual report or two recent quarterly reports. The company also has filed notice with the Securities and Exchange Commission that financial statements dating back to March 22 are unreliable.
Nasdaq notified Luna in April that it would delist the company from the exchange if it did not provide a plan to file accurate reports. It has sent Luna two more delinquent notices since then. On Monday, Luna reported to the SEC that Nasdaq has scheduled the company for delisting, unless Luna requests an appeal of that determination by Tuesday.
The company wrote that it planned to appeal the determination to a Nasdaq panel “on or prior to” Thursday. That is two days…
