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): April 10,
2017
OPEXA THERAPEUTICS, INC.
(Exact
name of registrant as specified in its charter)
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Texas
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001-33004
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76-0333165
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(State
or other jurisdiction ofincorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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2635 Technology Forest Blvd., The Woodlands, Texas
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77381
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (281) 272-9331
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N/A
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(Former
name or former address, if changed since last report)
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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:
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☐
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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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
Continued Listing Rule or Standard; Transfer of
Listing.
On
April 10, 2017, Opexa Therapeutics, Inc. (the “Company”) received a letter from
the listing qualifications department staff of the NASDAQ Stock
Market (“NASDAQ”) notifying the Company
that for the last 30 consecutive business days the bid price of the
Company’s common stock had closed below $1.00 per share, the
minimum closing bid price required by the continued listing
requirements of NASDAQ listing rule 5550(a)(2).
In
accordance with listing rule 5810(c)(3)(A), the Company has 180
calendar days, or until October 9, 2017, to regain compliance with
the minimum bid price rule. To regain compliance, the closing bid
price of the Company’s common stock must be at least $1.00
per share for a minimum of ten consecutive business days (or such
longer period of time as the NASDAQ staff may require in some
circumstances, but generally not more than 20 consecutive business
days) before October 9, 2017.
If the
Company’s common stock does not achieve compliance by October
9, 2017, the Company may be eligible for an additional 180-day
period to regain compliance if it meets the continued listing
requirement for market value of publicly held shares and all other
initial listing standards, with the exception of the bid price
requirement, and provides written notice to NASDAQ of its intention
to cure the deficiency during the second compliance period by
effecting a reverse stock split, if necessary. However, if it
appears to the NASDAQ staff that the Company will not be able to
cure the deficiency, or if the Company does not meet the other
listing standards, NASDAQ could provide notice that the
Company’s common stock will become subject to delisting. In
the event the Company receives notice that its common stock is
being delisted, NASDAQ rules permit the Company to appeal any
delisting determination by the NASDAQ staff to a Hearings
Panel.
The
Company intends to actively monitor the closing bid price of its
common stock between now and October 9, 2017 and will evaluate
available options to resolve the deficiency and regain compliance
with the minimum bid price rule. However, there can be no assurance
that the Company will be able to regain or maintain compliance with
the NASDAQ listing standards.
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, thereunto duly authorized.
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Dated:
April 14, 2017 |
OPEXA THERAPEUTICS,
INC.
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By:
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/s/
Neil K.
Warma
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Neil K.
Warma
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President, Chief Executive Officer |
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and Acting Chief Financial Officer |
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