GridAI Technologies Corp 8-K, filed Mar 2, 2020
GridAI Technologies Corp. (GRDX)
8-K
2020-03-02
For: 2020-03-02
View Original
Added on
April 11, 2026
About this 8-K
GridAI Technologies Corp filed this 8-K on March 2, 2020.
Items reported
- Item 8.01: Other events
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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): March 2,
2020
Commission File
Number: 021-214723
AzurRx
BioPharma, Inc.
(Exact name of
registrant as specified in its charter.)
|
Delaware
(State or other
jurisdiction of incorporation or organization)
|
46-4993860
(IRS Employer
Identification No.)
|
760 Parkside Ave., Suite 304, Brooklyn, New York 11226
(Address of principal executive offices)
(Address of principal executive offices)
646-699-7855
(Registrant's Telephone number)
(Registrant's Telephone number)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
(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))
Indicate by check
mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR
240.12b-2)
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. [ ]
Securities
registered pursuant to Section 12(b) of the Act:
|
Title of each class
Common Stock, par value $0.0001 per share |
Trading Symbol(s)
AZRX |
Name of exchange on which registered
Nasdaq Capital Market |
Item
8.01 Other Events.
On
March 2, 2020, AzurRx BioPharma, Inc. (the "Company") announced
that it has benefited from certain tax credits applicable to French
technology companies through its wholly-owned subsidiary, AzurRx
SAS resulting in a credit of over 1 million Euros in the French
Crédit d’impôt Recherche ("CIR"), a French tax
credit aimed at stimulating research activities. A copy of the
press release is attached hereto as Exhibit 99.1.
This
Current Report on Form 8-K and the exhibit attached hereto may
contain, among other things, certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including, without limitation, (i) statements with respect
to the Company's plans, objectives, expectations and intentions;
and (ii)other statements identified by words such as "may",
"could", "would", "should", "believes", "expects", "anticipates",
"estimates", "intends", "plans" or similar expressions. These
statements are based upon the current beliefs and expectations of
the Company's management and are subject to significant risks and
uncertainties.
Exhibit
Index
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Exhibit No.
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Description
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Press Release
issued by the Company, dated March 2, 2020.
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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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AzurRx
BioPharma, Inc.
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|
|
|
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Date: March 2, 2020
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By: /s/ Daniel
Schneiderman
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Name: Daniel Schneiderman
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Title: Chief Financial Officer
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Exhibit 99.1
AzurRx BioPharma Receives $1.13 million in 2018 CIR (French
Research Tax Credit)
●
CIR provides up to 30% in non-dilutive R& D tax relief to
eligible research-based French companies
●
CIR offers significant source of support for on-going MS1819 Phase
2 clinical studies in Europe
NEW
YORK, March 2, 2020 (GLOBE NEWSWIRE) -- AzurRx BioPharma, Inc.
(NASDAQ:AZRX) (“ AzurRx” or the “
Company”), a company specializing in the development of
non-systemic, recombinant therapies for gastrointestinal diseases,
today announced it has received over 1 million Euros in 2018 CIR
(French Research Tax Credit) following the successful conclusion of
an audit. The French R&D tax credit initiative (“
Crédit d’Impôt Recherche”, or CIR) gives
eligible research-based French companies, which are subject to
corporate tax in France, the ability to claim tax relief of up to
30% on costs incurred in R&D activities.
“
The 30% tax relief on R&D activities provides a significant
non-dilutive funding source for our on-going research and clinical
trial activities in France and Europe through our AzurRx SAS
subsidiary,” said James Sapirstein, the CEO of AzurRx.
“ The CIR allows the Company additional flexibility to hire
top-tier research scientists in France and to fund our ongoing
clinical trials such as our Phase 2 MS1819 studies in Chronic
Pancreatitis and Cystic Fibrosis, and our AZX1103 pre-clinical
development program. We are greatly appreciative of the French
government’s continued support of AzurRx
SAS.”
About CIR
The
Research Tax Credit (CIR) is a tax incentive provided by the French
Government to encourage the growth of businesses competitiveness by
favoring research and development (R&D) and innovative
activities. It is particularly adapted to the needs of small and
medium-sized enterprises.
About MS1819
MS1819, supplied as an oral non-systemic biologic
capsule, is a recombinant lipase enzyme that is derived from
the yarrowia lipolytica
lipase, and unlike the standard of
care, does not contain any animal products.
About Exocrine Pancreatic Insufficiency
Exocrine Pancreatic Insufficiency (EPI) is a
condition characterized by deficiency of the exocrine pancreatic
enzymes, resulting in the inability to digest food properly, or
maldigestion. This deficiency can be responsible for greasy
diarrhea, fecal urge and weight loss.There are approximately 90,000
patients in the U.S. with EPI caused by chronic pancreatitis
according to the National Pancreas Foundation, and more than 30,000
patients with EPI caused by CF according to the Cystic Fibrosis
Foundation. The current therapeutic standard of care for these
patients are porcine pancreatic enzyme replacement
pills.
About AzurRx BioPharma,
Inc.
AzurRx
BioPharma, Inc. (NASDAQ:AZRX) is engaged in the research and
development of non-systemic biologics for the treatment of patients
with gastrointestinal disorders. MS1819 recombinant lipase for EPI
is the Company's lead development program, and additional early
stage research is being conducted for the prevention of
hospital-acquired infections. The Company is headquartered in
Brooklyn, NY, with scientific operations based in Langlade, France.
Additional information on the Company can be found at
This press release may contain certain statements relating to
future results which are forward-looking statements. These
statements are not historical facts, but instead represent only the
Company’s belief regarding future events, many of which, by
their nature, are inherently uncertain and outside of the
Company’s control. It is possible that the Company’s
actual results and financial condition may differ, possibly
materially, from the anticipated results and financial condition
indicated in these forward-looking statements. Additional
information concerning the Company and its business, including a
discussion of factors that could materially affect the
Company’s financial results, including those related to the
clinical development of MS1819 and final results of the Phase 2
OPTION study, are contained in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2018 under the heading
“Risk Factors,” as well as the Company’s
subsequent filings with the Securities and Exchange Commission. All
forward-looking statements included in this press release are made
only as of the date of this press release, and we do not undertake
any obligation to publicly update or correct any forward-looking
statements to reflect events or circumstances that subsequently
occur or of which we hereafter become aware.
For more information:
AzurRx
BioPharma, Inc.
760
Parkside Avenue, Suite 304
Brooklyn,
NY 11226
Phone:
(646)-699-7855
info@azurrx.com
Investor Relations contact:
LifeSci
Advisors, LLC.
Hans
Vitzthum, Managing Director
1
International Place, Suite 1480
Boston,
MA 02110
Phone:
617-430-7578
hans@lifesciadvisors.com
www.lifesciadvisors.com