Current Report Filing (8-k)
October 18 2019 - 4:35PM
Edgar (US Regulatory)
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 17, 2019
Commission File No. 000-16929
Soligenix, Inc.
(Exact name of small business issuer as specified
in its charter)
DELAWARE
|
|
41-1505029
|
(State or other jurisdiction of incorporation or organization)
|
|
(I.R.S. Employer Identification Number)
|
|
|
|
29 Emmons Drive,
Suite B-10
Princeton, NJ
|
|
08540
|
(Address of principal executive offices)
|
|
(Zip Code)
|
(609) 538-8200
|
(Issuer’s telephone number, including area code)
|
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))
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 17, 2019, Soligenix, Inc. (the “Company”)
received a written notice (the “Bid Price Notice”) from the Listing Qualifications department (the “Nasdaq Staff”)
of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company is not in compliance with the $1.00 Minimum Bid Price
requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market. The notification of
noncompliance has no immediate effect on the listing or trading of the Company’s common stock on The Nasdaq Capital Market
under the symbol “SNGX,” and the Company is currently monitoring the closing bid price of its common stock and evaluating
its alternatives, if appropriate, to resolve the deficiency and regain compliance with this rule.
The Nasdaq Listing Rules require listed securities
to maintain a minimum bid price of $1.00 per share and, based upon the closing bid price for the last 30 consecutive business days,
the Company no longer meets this requirement. The Bid Price Notice indicated that the Company will be provided 180 calendar days,
or until April 14, 2020, in which to regain compliance. If at any time during this period the bid price of the Company’s
common stock closes at or above $1.00 per share for a minimum of ten consecutive business days, the Nasdaq Staff will provide the
Company with a written confirmation of compliance and the matter will be closed.
In the event the Company does not regain compliance
with Rule 5550(a)(2) prior to the expiration of the 180 calendar day period, the Nasdaq Staff will provide the Company with written
notification that its securities are subject to delisting from The Nasdaq Capital Market. At that time, the Company may appeal
the delisting determination to a Nasdaq Listing Qualifications Panel.
Alternatively, if the Company fails to regain
compliance with Rule 5550(a)(2) prior to the expiration of the 180 calendar day period, but meets the continued listing requirement
for market value of publicly held shares and all of the other applicable standards for initial listing on The Nasdaq Capital Market,
with the exception of the minimum bid price, and provides written notice of its intention to cure the deficiency during the second
compliance period by effecting a reverse stock split, if necessary, then the Company may be granted an additional 180 calendar
days to regain compliance with Rule 5550(a)(2).
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.
|
Soligenix, Inc.
|
October 18, 2019
|
By:
|
/s/ Christopher J. Schaber
|
|
|
Christopher J. Schaber, Ph.D.
President and Chief Executive Officer
(Principal Executive Officer)
|
Soligenix (NASDAQ:SNGX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Soligenix (NASDAQ:SNGX)
Historical Stock Chart
From Apr 2023 to Apr 2024