INTEC PHARMA LTD. (NASDAQ:NTEC) Files An 8-K Other Events
Item 8.01 Other Events.
Domestic Issuer Status
As of June 30, 2018, the last business day of the second quarter of Intec Pharma Ltd. (the “Company”), the Company determined that it no longer qualified as a foreign private issuer. As a result, effective January 1, 2019, the Company is required to file periodic reports and registration statements on U.S. domestic issuer forms with the SEC, which are more detailed and extensive in certain respects, and which must be filed more promptly, than the forms available to a foreign private issuer. In addition, the Company is required to comply with U.S. proxy requirements and Regulation FD (Fair Disclosure) and the Company’s officers, directors and principal shareholders are subject to the beneficial ownership reporting and short-swing profit recovery requirements in Section 16 of the Securities Exchange Act of 1934, as amended. The Company is also no longer eligible to rely upon exemptions from corporate governance requirements that are available to foreign private issuers or to benefit from other accommodations for foreign private issuers under the rules of the SEC or the Nasdaq, which would involve additional costs. The Company’s next Annual Report for the year ended December 31, 2018 will be filed as a domestic issuer, on Form 10-K. The consolidated financial statements included on Form 10-K will be presented in accordance with accounting principles generally accepted in the United States (U.S. GAAP) with such change being applied retrospectively.
Disclosure Channels to Disseminate Information
Investors and others should note that the Company may announce material information about its finances, product candidates, clinical trials and other matters to its investors using its investor relations website (https://ir.intecpharma.com/) in addition to SEC filings, press releases, public conference calls and webcasts. The Company uses these channels to communicate with the Company’s shareholders and the public about the Company and other issues. It is possible that the information the Company posts on these channels could be deemed to be material information. Therefore, the Company encourages investors, the media, and others interested in the Company to review the information it posts on the Company’s investor relations website (referenced above) in addition to following its press releases, SEC filings, public conference calls, and webcasts.
About INTEC PHARMA LTD. (NASDAQ:NTEC)
Intec Pharma Ltd is an Israel-based drug development company. It is a development stage biopharmaceutical company that develops formulations of drugs using its proprietary gastric retention technology, the Accordion Pill. The Accordion Pill, a novel gastro-retentive delivery system, improves the pharmacokinetics and pharmacodynamics of various drugs. The Company is focusing on the clinical development program for the Phase III clinical study of the Accordion Pill Carbidopa Levodopa (AP-CDLD), for the treatment of advanced stages Parkinson’s disease patients. Its pipeline also comprises The Accordion Pill-Zaleplon, a drug for sleep onset, which is in Phase II clinical program. Furthermore under research is Accordion Pill-Undisclosed Drug for the prevention and treatment of small bowel non-steroidal anti-inflammatory drug (NSAID) induced ulcers.