Current Report Filing (8-k)
June 22 2022 - 6:03AM
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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):
June 17, 2022
INMED PHARMACEUTICALS INC.
(Exact Name of Company as Specified in Charter)
British Columbia |
|
001-39685 |
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98-1428279 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
InMed Pharmaceuticals Inc. |
|
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Suite 310 - 815 W. Hastings Street, |
|
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Vancouver, B.C. |
|
|
Canada |
|
V6C 1B4 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Company’s telephone number, including
area code: (604) 669-7207
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 Instruction A.2. below):
☐ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | 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)) |
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 Shares, no par value |
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INM |
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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 June 17, 2022, the
Company received written notice from the listing qualifications department staff of The Nasdaq Capital Market (“Nasdaq”) notifying
it that the average closing bid price of the Company’s common shares over a period of 30 consecutive trading days was below the minimum
$1.00 per share requirement for continued listing on the Nasdaq under Nasdaq Listing Rule 5550(a)(2).
In accordance with applicable
Nasdaq procedures, the Company has a period of 180 calendar days following the receipt of the written notice mentioned above to cure the
deficiency and regain compliance. The notice has no immediate impact on the listing of the Company’s common shares, which will continue
to trade on the Nasdaq subject to the Company’s continued compliance with the other listing requirements of the Nasdaq. The common
shares of the Company will continue to trade under the symbol “INM”. The Company intends to monitor the closing share price
for its common shares and explore available options to regain compliance.
In the event the Company
does not evidence compliance with the minimum bid price requirement during the 180-day grace period, it is expected that Nasdaq would
notify the Company that its common shares are subject to delisting. At such time, the Company may appeal such determination to a Nasdaq
Hearings Panel (the “Panel”) and it is expected that the Company’s securities would continue to be listed and available
to trade on Nasdaq at least pending the completion of the appeal process. There can be no assurance that any such appeal would be successful
or that the Company would be able to evidence compliance with the terms of any extension that may be granted by the Panel.
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.
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INMED PHARMACEUTICALS INC. |
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Date: June 21, 2022 |
By: |
/s/ Brenda Edwards |
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Brenda Edwards |
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Interim Chief Financial Officer |
2
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