Current Report Filing (8-k)
May 06 2022 - 05:31PM
Edgar (US Regulatory)
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2022-05-06 iso4217:USD xbrli:shares iso4217:USD xbrli:shares
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):
May 6, 2022
Titan Pharmaceuticals, Inc.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
|
001-13341 |
94-3171940 |
| (Commission File Number) |
(IRS Employer Identification No.) |
400 Oyster Point Blvd.,
Suite 505,
South San Francisco,
CA
94080
(Address of principal executive offices and zip code)
650-244-4990
(Registrant's telephone number including area code)
(Registrant's former name or former address, if changed since last
report)
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, par value $0.001 |
|
TTNP |
|
Nasdaq Capital Market |
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of registrant under
any of the following provisions:
|
¨ |
Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425) |
|
¨ |
Soliciting material pursuant to Rule 14a-12(b)
under the Exchange Act (17 CFR 240.14a-12(b)) |
|
¨ |
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
¨ |
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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 May 6, 2022, Titan Pharmaceuticals, Inc. (the
“Company”) received a letter from the Listing Qualifications staff
of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that it
is no longer in compliance with the minimum bid price requirement
for continued listing on the Nasdaq Capital Market. Nasdaq Listing
Rule 5550(a)(2) requires listed companies to maintain a
minimum bid price of $1.00 per share. The letter noted that the bid
price of the Company’s common stock was below $1.00 for the 30-day
period ending May 5, 2022.
The notification letter has no immediate effect on the Company’s
listing on the Nasdaq Capital Market. Nasdaq has provided the
Company with 180 days, or until November 2, 2022, to regain
compliance with the minimum bid price requirement by having a
closing bid price of at least $1.00 per share for a minimum of 10
consecutive business days.
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 thereunto duly authorized.
| |
TITAN
PHARMACEUTICALS, INC. |
| |
|
| |
By: |
/s/ Kate Beebe DeVarney, Ph.D. |
|
|
|
Name: |
Kate Beebe DeVarney, Ph.D. |
| |
|
Title: |
President and Chief Operating Officer |
| |
|
| Dated:
May 6, 2022 |
|
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