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Clinical-stage pharmaceutical company Verseon said it planned to cancel the trading of its shares on London's AIM market.
The move was subject to shareholder approval at a meeting convened for 6 December 6.
The company reiterated that its share price had been put under 'extreme pressure' by market events outside of its control.
The pressure had impaired its ability to raise funds, it added.
'Shareholders should note that the directors believe it is highly likely that the company's viability as a going concern would be at a material risk if the company remains listed on AIM,' Verseon said.
'In the opinion of the directors, the company would be better positioned to pursue its already stated fundraising and operational plans, including the preferred share offering, as a private company into 2020.'