Cerecor Inc. (NASDAQ:CERC) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01.
|
Notice of Delisting or Failure to Satisfy a Continued Listing
Rule or Standard; Transfer of Listing. |
from the Nasdaq Listing Qualifications Staff (the Staff) that the
Company is not in compliance with Nasdaq Listing Rule 5550(a)(2)
(the “Rule”), as the closing bid price of the Company’s common
stock was below $1.00 for the last 30 consecutive business days. As
a result, the Company was notified by the Staff that a deficiency
exists. This notification has no immediate effect on the Companys
listing on the Nasdaq Stock Market or on the trading of the
Companys common stock, Class A warrants or Class B warrants (the
“Listed Securities”).
has a period of 180 calendar days, or until August 23, 2017, to
regain compliance with the Rule. To regain compliance, at any time
during the 180 calendar day-compliance period the closing bid price
of the Company’s common stock must be at least $1.00 for a minimum
of ten consecutive business days. If the Company does not regain
compliance with the Rule during the compliance period, it will
receive written notification that its Listed Securities are subject
to delisting, at which time the Company may appeal any delisting
determination.
regain compliance. There can be no assurance that the Company will
be able to regain compliance with the Rule or will otherwise be in
compliance with other Nasdaq listing criteria.
|
|
|
|
About Cerecor Inc. (NASDAQ:CERC)
Cerecor, Inc. is a clinical stage biopharmaceutical company. The Company is engaged in developing drug candidates for patients with neurological and psychiatric disorders. The Company has a portfolio of clinical and preclinical compounds that it is developing for a range of indications, including CERC-301, which is an adjunctive treatment for major depressive disorder (MDD); CERC-501, which is for substance use disorders and adjunctive treatment of MDD, and CERC-406, which is for the treatment of cognitive impairment. The Company owns the rights to its COMTi platform. Catechol O methyltransferase (COMT) is an enzyme critical for the inactivation and metabolism of dopamine and its inhibition in the brain has applicability in treating subjects with neuropsychiatric conditions, including MDD, schizophrenia, Parkinson’s disease and pathological gambling. Its COMTi platform comprises COMT inhibitors with selectivity for membrane bound COMT, which is the dominant form of COMT. Cerecor Inc. (NASDAQ:CERC) Recent Trading Information
Cerecor Inc. (NASDAQ:CERC) closed its last trading session up +0.015 at 0.760 with 40,407 shares trading hands.
