AzurRx BioPharma, Inc. (NASDAQ:AZRX) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On July 23, 2020, AzurRx BioPharma, Inc. (the “Company”) received a letter (the “July Letter”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company of the Staff’s determination that the Company has regained compliance withNasdaq Listing Rule5635(d).

As previously reported in the Company’s Current Report onForm 8-Kfiled on June 12, 2020, the Company received a letter on June 11, 2020 from the Staff notifying the Company that it had failed to comply with the Listing Rule5635(d) in connection with the offer and sale by the Company of senior convertible promissory notes (the “Convertible Notes) and related warrants, in certain closings of a prior private offering, and of common stock to a prior purchase agreement with Lincoln Park Capital Fund, LLC (collectively, the “Prior Transactions”).

In its July Letter, the Staff stated that it has determined that the Company has regained compliance with Listing Rule5635(d), as a result of its recently completed exchange offering (the “Exchange”) of Convertible Notes for Series B Convertible Preferred Stock and related warrants, which was previously reported in the Company’s Current Report on Form 8-K filed on July 20, 2020. As a result of the Exchange, the Company reduced the number of shares issuable at below the Minimum Price (as defined in Nasdaq Listing Rule 5635(d)) to less than 20% of the total shares outstanding as of the applicable time of the Prior Transactions.

Accordingly, the Staff has determined that the matter is now closed.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 24, 2020, the Compensation Committee of the Board of Directors of the Company approved an increase in the annual base salary of James Saperstein, the Company’s President and Chief Executive Officer, from $450,000 to $480,000, effective August 1, 2020.

About AzurRx BioPharma, Inc. (NASDAQ:AZRX)

AzurRx BioPharma, Inc. is a clinical development-stage biopharmaceutical company. The Company is engaged in the research and development of non-systemic biologics for the treatment of patients with gastrointestinal (GI) disorders. The Company’s product pipeline consists of two therapeutic proteins, such as MS1819 and AZX1101. MS1819 is an acid-resistant secreted lipase produced by Yarrowia lipolytica, known as LIP2, that the Company is developing through recombinant deoxyribonucleic acid (DNA) technology for the treatment of exocrine pancreatic insufficiency (EPI), associated with chronic pancreatitis (CP) and cystic fibrosis (CF). AZX1101 is a recombinant-lactamase combination of bacterial origin under development for the prevention of hospital-acquired infections by resistant bacterial strains induced by parenteral administration of b-lactam antibiotics (known as nosocomial infections), as well as the prevention of antibiotic-associated diarrhea (AAD).