Marker Therapeutics, Inc 8-K, filed Aug 19, 2022
Marker Therapeutics, Inc. (MRKR)
About this 8-K
Marker Therapeutics, Inc filed this 8-K on August 19, 2022, reporting on events of August 16, 2022.
Items reported
- Item 3.01: Delisting notice or listing transfer
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| Item 3.01 | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
As previously reported, on February 16, 2022, Marker Therapeutics, Inc. (the “Company”) received a notice from The Nasdaq Stock Market (“Nasdaq”) that the Company was not in compliance with Nasdaq’s Listing Rule 5450(a)(1), as the minimum bid price of the Company’s common stock had been below $1.00 per share for 30 consecutive business days. The Company was granted 180 calendar days, or until August 15, 2022, to regain compliance with the minimum bid price requirement. On August 16, 2022, Nasdaq approved the Company’s application to transfer to The Nasdaq Capital Market, effective at the opening of business on August 18, 2022, and notified the Company that it had been granted an additional 180-calendar day compliance period, or until February 13, 2023, to regain compliance with the minimum bid price requirement. As part of the transfer, the Company provided notice to Nasdaq that it intended to cure the bid price deficiency by effecting a reverse stock split, if necessary, prior to the end of the compliance period. The Company’s failure to regain compliance during this period could result in delisting, which the Company could appeal to a Nasdaq hearings panel.
The Company intends to actively monitor the bid price of its common stock and will consider available options, including a reverse stock split, to regain compliance with the listing requirements. There can be no assurance that the Company will be able to regain compliance with Nasdaq’s Listing Rule 5450(a)(1) or will otherwise be in compliance with other Nasdaq listing criteria.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Marker Therapeutics, Inc. | ||
| Dated: August 19, 2022 | By: | /s/ Peter Hoang |
| Peter Hoang | ||
| President and Chief Executive Officer | ||