Vicarious Surgical, a next-gen robotic company looking to transform robotic surgery, announced that it received a notice on March 3 from the New York Stock Exchange (NYSE) beginning the process of delisting its Class A common stock.

The NYSE determined the company fell below the continued listing standard, which requires listed companies to keep an average global market capitalization over a consecutive 30 trading day period of at least $15 million. It will apply to the SEC to delist the Common Stock once all the applicable procedures are completed.

Vicarious Surgical can appeal the NYSE’s delisting determination within ten business days of receiving the notice. The company said it’s evaluating whether to appeal the delisting determination.

The company received approval of its application to have its Common Stock quoted on the OTCID market tier operated by OTC Markets. Vicarious Surgical expects the Common Stock will begin quotation on the OTCID at open of business today under the current trading symbol of “RBOT.”

Vicarious’ novel surgical approach uses proprietary, human-like surgical robots to virtually transport surgeons inside the patient to perform minimally invasive surgery. The company aims to substantially increase the efficiency of surgical procedures, improve patient outcomes, and reduce healthcare costs.

In January, the company entered into a strategic partnership agreement with a global digital engineering and software development services firm. The company did not disclose the name of its partner.