# EDGAR Filing Document

**Accession Number:** 0001811623
**File Stem:** 0001354457-25-000791
**Filing Date:** 2025-8
**Character Count:** 6015
**Document Hash:** c74d6a271c647267af62b8eeda548f44
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001354457-25-000791.hdr.sgml**: 20250808

**ACCESSION NUMBER**: 0001354457-25-000791

**CONFORMED SUBMISSION TYPE**: 25-NSE

**CONFIRMING COPY**: 

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250808

**DATE AS OF CHANGE**: 20250808

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Kuvatris Therapeutics, Inc.
- **CENTRAL INDEX KEY:** 0001811623
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 25-NSE
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41475

**BUSINESS ADDRESS:**
- **STREET 1:** 303 SOUTH BROADWAY, SUITE 125
- **CITY:** TARRYTOWN
- **STATE:** NY
- **ZIP:** 10591
- **BUSINESS PHONE:** 914-987-2876

**MAIL ADDRESS:**
- **STREET 1:** 303 SOUTH BROADWAY, SUITE 125
- **CITY:** TARRYTOWN
- **STATE:** NY
- **ZIP:** 10591

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PaxMedica, Inc.
- **DATE OF NAME CHANGE:** 20200507
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nasdaq Stock Market LLC
- **CENTRAL INDEX KEY:** 0001354457

**ORGANIZATION NAME:**
- **EIN:** 521165937
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 25-NSE

**BUSINESS ADDRESS:**
- **STREET 1:** One Liberty Plaza
- **CITY:** New York
- **STATE:** NY
- **ZIP:** 10006
- **BUSINESS PHONE:** 301-978-4144

**MAIL ADDRESS:**
- **STREET 1:** Office of General Counsel
- **STREET 2:** 805 King Farm Blvd.
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** The Nasdaq Stock Market LLC
- **DATE OF NAME CHANGE:** 20060224

## Exhibit 99.25

```

Delisting Determination, The Nasdaq Stock Market, LLC, August 5, 2025
PaxMedica, Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the security of PaxMedica, Inc.effective at the opening
of the trading session on August 18, 2025.Based on review of information
provided by the Company, Nasdaq Staff determined that the Company no
longer qualified for listing on the Exchange pursuant to Listing Rule
5550(b)(2).The Company was notified of the Staff determination on
June 12, 2023. On June 20, 2023 the Company exercised its right
to appeal the Staff determination to the Listing Qualifications Hearings
Panel (Panel) pursuant to Listing Rule 5815. On August 10, 2023,
the hearing was held. On August 14, 2023 the Panel reached a decision
and a Decision letter was issued on August 16, 2023. On January
12, 2024 Staff issued an Additional Staff Delist Determination
Letter because the Company fell out of compliance with Listing Rule
5550(a)(2) within the time it was under a Panel Monitor pursuant
to Listing Rule 5815(d)(4)(A) and as mentioned in the Hearing Panel
decision dated December 20, 2023. On April 30, 2024, the Panel
reached a decision and decided to suspend the Company from the
Exchange. The Company security was suspended on May 2, 2024. The
Staff determination to delist the Company security became final
on July 19, 2024.

```

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 25

### NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

**Commission File Number:** 001-41475

|  |  |
|:---|:---|
| Issuer:                                                                                                             | Kuvatris Therapeutics, Inc.                          |
| Exchange:                                                                                                           | Nasdaq Stock Market LLC                              |
| (Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered) |  |
| Address:                                                                                                            | 50 Tice Boulevard, Woodcliff Lake, NEW JERSEY, 07677 |
| Telephone number:                                                                                                   | 917-751-4107                                         |
| (Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)   |  |
| (Description of class of securities)                                                                                | Common Stock                                         |

---

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

- [ ] 17 CFR 240.12d2-2(a)(1)
- [ ] 17 CFR 240.12d2-2(a)(2)
- [ ] 17 CFR 240.12d2-2(a)(3)
- [ ] 17 CFR 240.12d2-2(a)(4)
- [x] Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange.
- [ ] Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d2-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

---

Pursuant to the requirements of the Securities Exchange Act of 1934, Nasdaq Stock Market
LLC certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing the Form 25 and has caused this notification to be signed on its
behalf by the undersigned duly authorized person.

| Date       | By   | Name          | Title            |
|:---|:---|:---|:---|
| 2025-08-08 |  | Aravind Menon | Hearings Advisor |

Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR
240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number.