Current Report Filing (8-k)
November 04 2022 - 4:17PM
Edgar (US Regulatory)
0001621443
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0001621443
2022-11-01
2022-11-01
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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):
November 1, 2022
ZYNERBA PHARMACEUTICALS, INC.
(Exact Name of Issuer as Specified in Charter)
Delaware |
|
001-37526 |
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26-0389433 |
(State or Other Jurisdiction of
Incorporation or Organization) |
|
(Commission
File Number) |
|
(I.R.S. Employer
Identification No.) |
80 W. Lancaster Avenue, Suite 300
Devon, PA 19333
(Address of Principal Executive Offices)
(484) 581-7505
(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:
¨ |
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 per share |
|
ZYNE |
|
The Nasdaq Global Market |
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 November 1, 2022,
Zynerba Pharmaceuticals, Inc. (the “Company”) received a deficiency letter from the Listing Qualifications Department
(the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last
30 consecutive business days, the closing bid price for the Company’s common stock has been below the minimum $1.00 per share required
for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) (“Rule 5450(a)(1)”).
The Nasdaq deficiency letter has no immediate effect on the listing of the Company’s common stock, and its common stock will continue
to trade on The Nasdaq Global Market under the symbol “ZYNE” at this time.
In accordance with Nasdaq Listing Rule 5810(c)(3)(A),
the Company has been provided a period of 180 calendar days, or until May 1, 2023, to regain compliance with Rule 5450(a)(1).
If at any time before May 1, 2023, the bid price of the Company’s common stock closes at $1.00 per share or more for a minimum
of 10 consecutive business days, the Staff will provide written notification to the Company that it has regained compliance.
If the Company does not
regain compliance by May 1, 2023, it may be eligible for an additional 180 calendar day compliance period if it elects (and meets
the listing standards) to transfer to The Nasdaq Capital Market to take advantage of the additional compliance period offered on that
market. To qualify, the Company would be required, among other things, to meet the continued listing requirement for market value of publicly
held shares as well as all other standards for initial listing on The Nasdaq Capital Market, with the exception of the minimum bid price
requirement, and it would need to provide written notice of its intention to cure the bid price deficiency during the second compliance
period.
The Company intends to
actively monitor the closing bid price for its common stock and will consider all available options to resolve the deficiency and regain
compliance with Rule 5450(a)(1).
SIGNATURE
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.
Date: November 4, 2022
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ZYNERBA PHARMACEUTICALS, INC. |
|
|
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By: |
/s/ Albert P. Parker |
|
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Name: Albert P. Parker |
|
|
Title: Chief Legal Officer |
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