Form 8-K - Current report
October 17 2023 - 3:37PM
Edgar (US Regulatory)
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2023-10-11
2023-10-11
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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): October 11, 2023
DMK PHARMACEUTICALS CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware |
|
0-26372 |
|
82-0429727 |
(State or other jurisdiction of
incorporation) |
|
(Commission File Number) |
|
(IRS Employer Identification No.) |
11622 El Camino Real, Suite 100
San Diego, CA |
|
92130 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including area
code: (858) 997-2400
(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 (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)) |
Securities registered pursuant to Section 12(b) of
the Exchange Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on
which registered |
Common Stock |
|
DMK |
|
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 |
As previously disclosed, on April 12, 2023, DMK Pharmaceuticals
Corporation (“DMK” or the “Company”) received a letter from the Listing Qualifications Staff (the “Staff”)
of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the market value of the Company’s common stock closed below the
minimum $35 million threshold required by Nasdaq Listing Rule 5550(b)(2) (the “Rule”) for the previous 30 consecutive trading
days and, in accordance with the Nasdaq Listing Rules, the Company was provided 180 calendar days, or until October 9, 2023, to regain
compliance with the Rule.
On October 11, 2023, the Company received notice from
the Staff that the Company’s common stock was subject to delisting unless the Company timely requests a hearing before the Nasdaq
Hearings Panel (the “Panel”). The Company plans to timely request a hearing before the Panel, which request will stay any
further action by Nasdaq at least until the hearing is held and any extension the Panel may grant to the Company following the hearing
expires. There can be no assurance, however, that the Panel will grant the Company’s request for continued listing or that the Company
will regain compliance with the Rule prior to the expiration of any extension that may be granted to the Company following the hearing.
Forward-looking Statements
The Company makes forward-looking statements in this
report within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations
or forecasts for future events. These statements may be preceded by, followed by or include the words “may,” “might,”
“will,” “will likely result,” “should,” “estimate,” “plan,” “project,”
“forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,”
“continue,” “target” or similar expressions. These forward-looking statements are based on information available
to the Company as of the date of this report and involve substantial risks and uncertainties. Actual results may vary materially from
those expressed or implied by the forward-looking statements herein due to a variety of factors, including the Company’s ability
to regain compliance with the Rule during any compliance period or in the future or otherwise meet Nasdaq compliance and listing standards,
and other risks and uncertainties set forth in our reports filed with the Securities and Exchange Commission (“SEC”). You
should not place undue reliance on any forward-looking statements. Further, any forward-looking statement speaks only as of the date on
which it is made, and except as may be required by applicable law, we undertake no obligation to update or release publicly the results
of any revisions to these forward-looking statements or to reflect events or circumstances arising after the date of this Report. Certain
of these risks and additional risks, uncertainties, and other factors are described in greater detail in the Company’s filings from
time to time with the SEC, including its annual report on Form 10-K for the year ended December 31, 2022 and subsequent filings with the
SEC, which the Company strongly urges you to read and consider, all of which are available free of charge on the SEC’s web site
at http://www.sec.gov.
Item 9.01 |
Financial Statements and Exhibits |
Exhibit No. |
Description |
104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
|
DMK PHARMACEUTICALS CORPORATION |
|
|
|
|
|
|
Dated: October 16,
2023 |
By: |
/s/ Ebrahim Versi |
|
Name: |
Ebrahim Versi |
|
Title: |
Chief Executive Officer |
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