The Nasdaq Stock Market is delisting Osiris Therapeutics Inc. securities as the company failed to meet the exchange's requirements after being granted additional time for compliance.

Trading of the company's common stock will be suspended March 14. The delisting will become effective 10 days after the exchange files a Form 25 with the SEC to formally delist the securities.

Osiris expects that its common stock will be quoted on the Pink OTC Markets Inc. system, or pink sheets, however there is no assurance that a market maker will apply to quote the its common stock or that the securities will become eligible for the pink sheets.

The company is working to complete its restatement of prior period financial statements, transition to a new independent registered public accounting firm and conclude its 2015 and 2016 audits, with the aim of bringing its SEC filings up to date.

Osiris plans to seek to relist its stock on the Nasdaq or another national securities exchange, as soon as possible once it becomes current in its reporting obligations.