Current Report Filing (8-k)
December 23 2021 - 4:07PM
Edgar (US Regulatory)
0001429560
false
0001429560
2021-12-21
2021-12-21
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):
December 21, 2021
TREVENA, INC.
(Exact name of registrant as specified in
its charter)
Delaware
(State or other jurisdiction of incorporation)
001-36193
|
|
26-1469215
|
(Commission
File No.)
|
|
(IRS Employer
Identification No.)
|
955 Chesterbrook Boulevard, Suite 110
Chesterbrook, PA 19087
(Address of principal executive offices
and zip code)
Registrant’s telephone number, including
area code: (610) 354-8840
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:
|
¨
|
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 Stock, $0.001 par value
|
|
TRVN
|
|
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 December 21, 2021, Trevena, Inc. (the “Company”) received
a letter (the “Notice”) from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market indicating
that, for the last 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00
per share required for continued inclusion on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Requirement”).
The Notice has no effect at this time on the listing of the Company’s
common stock, which will continue to trade on The Nasdaq Capital Market under the symbol “TRVN”.
In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the Company
has been provided a period of 180 calendar days, or until June 20, 2022, to regain compliance with the Bid Price Requirement. To regain
compliance with the minimum bid price requirement, 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 during this 180-day period. If, by June 20, 2022, the Company cannot demonstrate
compliance with the Bid Price Requirement, it may be eligible for additional time. To qualify for additional time, the Company would be
required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for
The Nasdaq Capital Market, with the exception of the Bid Price Requirement, and would need to provide written notice of its intention
to cure the deficiency during the second compliance period by effecting a reverse stock split, as necessary. If the Company meets these
requirements, the Company would have an additional 180 calendar days to comply in order for the Company’s common stock to remain
listed on The Nasdaq Capital Market. If the Company is not eligible for the second compliance period, then the Staff will provide notice
that the Company’s securities will be subject to delisting. At such time, the Company may appeal the delisting determination to
a Nasdaq Hearings Panel (“Panel”). The Company would remain listed pending the Panel’s decision. There can be no assurance
that, if the Company does appeal a subsequent delisting determination by the Staff to the Panel, that such appeal would be successful.
The Company intends to monitor the closing bid price of the Company’s
common stock and consider its available options if the closing bid price of the Company’s common stock remains below $1.00 per share.
There can be no assurance that the Company will be able to regain compliance with the Bid Price Requirement, even if it maintains compliance
with the other listing requirements.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this Current Report on Form 8-K are forward-looking
within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking
words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” “intend,”
“likely,” “may,” “plan,” “potential,” “predict,” “opportunity”
and “should,” among others. There are a number of factors that could cause actual events to differ materially from those indicated
by such forward-looking statements. The Company does not undertake an obligation to update or revise any forward-looking statements. Investors
should read the risk factors set forth in the Company’s Form 10-Q for the quarter ended September 30, 2021, and its other periodic
reports filed with the Securities and Exchange Commission.
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.
|
|
TREVENA, INC.
|
|
|
|
Date: December 23, 2021
|
By:
|
/s/ Barry Shin
|
|
|
Barry Shin
|
|
|
Senior Vice President, Chief Financial Officer
|
Trevena (NASDAQ:TRVN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Trevena (NASDAQ:TRVN)
Historical Stock Chart
From Sep 2023 to Sep 2024