Current Report Filing (8-k)
October 14 2022 - 3:32PM
Edgar (US Regulatory)
0001035354
false
0001035354
2022-10-11
2022-10-11
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):
October 11, 2022
Eloxx Pharmaceuticals, Inc.
(Exact name of registrant as specified
in its charter)
Delaware |
|
001-31326 |
|
84-1368850 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(I.R.S. Employer
Identification No.) |
480
Arsenal Way, Suite 130, Watertown, MA |
|
02451 |
(Address of principal executive offices) |
|
(Zip Code) |
(Registrant’s telephone number,
including area code): (781) 577-5300
N/A
(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, $0.01 par value per share |
ELOX |
The Nasdaq Capital 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 October 11, 2022, Eloxx Pharmaceuticals, Inc.
(the “Company”) received a written notification letter (the “Notice”) from the Listing Qualifications Department
of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the Company’s
Minimum Value of Listed Securities, as defined by Nasdaq (“MVLS”), has been below the minimum $35 million requirement for
continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5500(b)(2) (the “Minimum Market Value Requirement”).
The Notice has no immediate effect on the listing
of the Company’s common stock, and its common stock will continue to trade on The Nasdaq Capital Market under the symbol “ELOX,”
subject to the Company’s compliance with the other continued listing requirements of The Nasdaq Capital Market.
In accordance with Nasdaq Listing Rule 5810(c)(3)(C),
the Company has 180 calendar days, or until April 10, 2023, to regain compliance with the Minimum Market Value Requirement. The Notice
states that, to regain compliance, the Company’s minimum MLVS must close at $35 million or more for a minimum of ten (10) consecutive
business days during the compliance period ending April 10, 2023.
If the Company does not regain compliance with
the Minimum Market Value Requirement during the compliance period ending April 10, 2023, Nasdaq will provide written notification that
the Company’s common stock will be subject to delisting. At that time, the Company may appeal any such delisting determination to
a Nasdaq hearings panel.
The Company intends to actively monitor the Company’s
MLVS and evaluate available options to regain compliance with the Minimum Market Value Requirement. While the Company is exercising diligent
efforts to maintain the listing of its common stock on The Nasdaq Capital Market, there can be no assurance that the Company will be able
to regain compliance with the Minimum Market Value Requirement during the 180-day compliance period or maintain compliance with the other
listing requirements of The Nasdaq Capital Market.
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.
|
ELOXX PHARMACEUTICALS, INC. |
|
|
|
Date: October 14, 2022 |
By: |
/s/ Sumit Aggarwal |
|
Name: |
Sumit Aggarwal |
|
Title: |
President and Chief Executive Officer |
Eloxx Pharmaceuticals (NASDAQ:ELOX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Eloxx Pharmaceuticals (NASDAQ:ELOX)
Historical Stock Chart
From Jul 2023 to Jul 2024