We have been over this many times before. The line in red below spells it out and the reason is that they don’t qualify for NASDAQ. They haven’t been able to drive the price or anything to get there. KOO – the price wasn’t near $5 CAD long and it needs USD 4.00 without other qualifications for exception of that. It takes time to get a listing approved. Besides the basic qualifications in the link below, RVX must also meet all qualifications in one of the four standards listed below. These are also in the link. They don’t so that makes the basic qualifications moot.

Paladin stated - FWIW, I think that getting a US listing could have reinvigorated the optics surrounding RVX in a very positive way. Nevertheless, they must have had a good reason for not doing so. These decisions are not made in a vacuum. The only major reason that I can think of is that they don't see this company going it alone for too much longer, and clearly they can't because they simply don't have the money to do that.  So again, it comes down to a significant partnership announcement or a buyout.  I don't see any other path forward.

https://www.investopedia.com/ask/answers/nasdaq-listing-requirements/

In addition to these requirements, companies must meet all of the criteria under at least one of the following standards.

In No. 1, the company loses money every year so does not qualify here. Same for No. 2 as they are negative. They miss on No. 3 as the market cap has not averaged US$850 million for the last year and they had no revenue. They also miss on No. 4 as Total Assets have only been averaging around $13 - $17 million as compared to the necessary $80 million and Shareholder Equity has been a large negative while it needs to be a positive $55 million. They just don’t qualify for NASDAQ without driving the price up. Maybe on a lesser exchange!

Standard No. 1: Earnings

The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the previous two years at least $2.2 million, and no single year in the prior three years can have a net loss.

Standard No. 2: Capitalization With Cash Flow

The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. Also, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.

Standard No. 3: Capitalization With Revenue

Companies can be removed from the cash flow requirement of the second standard if its average market capitalization over the past 12 months is at least $850 million and revenues over the prior fiscal year are at least $90 million.

Standard No. 4: Assets With Equity

Companies can eliminate the cash flow and revenue requirements, and decrease its marketing capitalization requirements to $160 million if their total assets total at least $80 million and their stockholders' equity is at least $55 million.