Form 8-K - Current report
October 20 2023 - 5:00PM
Edgar (US Regulatory)
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2023-10-16
2023-10-16
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section
13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date
of earliest event reported): October 16, 2023
Outlook Therapeutics,
Inc.
(Exact name of Registrant
as Specified in Its Charter)
Delaware |
001-37759 |
38-3982704 |
(State or Other Jurisdiction
of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
485 Route 1 South
Building F, Suite 320
Iselin, New Jersey |
08830 |
(Address of Principal Executive Offices) |
(Zip Code) |
(609) 619-3990
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former
Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instructions A.2. below):
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading
Symbol(s) |
|
Name of each exchange
on which registered |
Common Stock |
|
OTLK |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
Item 3.01 Notice of Delisting or Failure to Satisfy a
Continued Listing Rule or Standard; Transfer of Listing.
On October 16, 2023, Outlook Therapeutics, Inc., a Delaware corporation
(the “Company”), received a letter from the Listing Qualifications Staff (the “Nasdaq Staff”) of The Nasdaq Stock
Market LLC (“Nasdaq”) notifying the Company that for the last 32 consecutive business days, the bid price of the Company’s
common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of Nasdaq
Listing Rule 5550(a)(2).
The notification received has no immediate effect on the listing of
the Company’s common stock on the Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180
calendar days, or until April 15, 2024 (the “Compliance Date”), to regain compliance with the minimum bid price requirement.
To regain compliance, the closing bid price of the Company’s common stock must be at least $1.00 per share for a minimum of ten
consecutive business days before the Compliance Date.
If the Company’s common stock does not achieve compliance by
the Compliance Date, the Company may be eligible for an additional 180-day period to regain compliance if it meets the continued listing
requirement for market value of publicly held shares and all other initial listing standards, with the exception of the bid price requirement,
and provides written notice to Nasdaq of its intention to cure the deficiency during the second compliance period, by effecting a reverse
stock split, if necessary. However, if it appears to the Nasdaq Staff that the Company will not be able to cure the deficiency, or if
the Company is otherwise not eligible for the additional compliance period, and the Company does not regain compliance by the Compliance
Date, the Nasdaq Capital Market will provide written notification to the Company that its common stock is subject to delisting. At that
time, the Company may appeal the delisting determination to a hearings panel pursuant to the procedures set forth in the applicable Nasdaq
listing rules. However, there can be no assurance that, if the Company does appeal the delisting determination by Nasdaq to the panel,
such appeal would be successful.
The Company intends to actively monitor the closing bid price of its
common stock between now and the Compliance Date and will evaluate available options to resolve the deficiency and regain compliance with
the minimum bid price rule.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
Outlook Therapeutics, Inc. |
|
|
|
Date: October 20, 2023 |
By: |
/s/ Lawrence A. Kenyon |
|
|
Lawrence A. Kenyon |
|
|
Chief Financial Officer |
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Oct. 16, 2023 |
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Document Period End Date |
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Entity File Number |
001-37759
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Entity Registrant Name |
Outlook Therapeutics,
Inc.
|
Entity Central Index Key |
0001649989
|
Entity Tax Identification Number |
38-3982704
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
485 Route 1 South
|
Entity Address, Address Line Two |
Building F
|
Entity Address, Address Line Three |
Suite 320
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Entity Address, City or Town |
Iselin
|
Entity Address, State or Province |
NJ
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Entity Address, Postal Zip Code |
08830
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City Area Code |
609
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Local Phone Number |
619-3990
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Title of 12(b) Security |
Common Stock
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Trading Symbol |
OTLK
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Security Exchange Name |
NASDAQ
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Entity Emerging Growth Company |
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