This excerpt taken from the TPTX DEF 14A filed Jun 19, 2009.
Can I still sell my shares of TorreyPines Therapeutics, Inc. common stock?
Yes, but only until the filing of our Certificate of Dissolution. Our common stock is listed on the Nasdaq Stock Market. We anticipate that we will request that our common stock be delisted from the Nasdaq Stock Market immediately prior to the filing of the Certificate of Dissolution with the Delaware Secretary of State. In addition, we intend to close our stock transfer books and
discontinue recording transfers of shares of our common stock at the close of business on the date we file the Certificate of Dissolution with the Delaware Secretary of State. Thereafter, certificates representing shares of our common stock will not be assignable or transferable on our books except by will, intestate succession or operation of law. See Proposal No. 1Approval of the Plan of Liquidation and DissolutionDescription of the Plan of Dissolution and Dissolution ProcessListing and Trading of the Common Stock and Interests in the Liquidating Trust or Trusts.