PhaseRx, Inc. (NASDAQ:PZRX) Files An 8-K Results of Operations and Financial ConditionItem 2.02.
On August 10, 2017, PhaseRx, Inc. (the “Company”) issued a press release announcing its financial results for the second fiscal quarter ended June 30, 2017. A copy of this press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information furnished to this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof and regardless of any general incorporation language in such filing.
| Item 3.01. | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On August 8, 2017, the Company received a letter from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) indicating that, based upon the closing bid price of the Company’s common stock for the last 30 consecutive business days, the Company did not meet the minimum bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market to Nasdaq Listing Rule 5550(a)(2). The letter also indicated that the Company will be provided with a compliance period of 180 calendar days, or until February 5, 2018, in which to regain compliance to Nasdaq Listing Rule 5810(c)(3)(A). The letter further provided that if, at any time during the 180-day period, the closing bid price of the Company’s common stock is at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation that it has achieved compliance with the minimum bid price requirement. If the Company does not regain compliance by February 5, 2018, an additional 180 days may be granted to regain compliance if the Company (i) meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market (except for the bid price requirement) and (ii) provides written notice of its intention to cure the deficiency during the second 180-day compliance period.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit Number | Description |
| 99.1 | Press release dated August 10, 2017* |
* This exhibit is furnished to Item 2.02 and shall not be deemed to be “filed.”
PHASERX, INC. ExhibitEX-99.1 2 v472753_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 PhaseRx Reports Second Quarter 2017 Financial Results and Provides Corporate Update SEATTLE,…To view the full exhibit click here
About PhaseRx, Inc. (NASDAQ:PZRX)
PhaseRx, Inc is a biopharmaceutical company developing a portfolio of mRNA products to correct life-threatening inherited liver diseases in children. The Company’s initial product development focus is on urea cycle disorders, a group of rare genetic diseases that generally present before the age of 12 and are characterized by the body’s inability to remove ammonia from the blood. The Company’s i-ERT approach is enabled by its Hybrid mRNA Technology platform and is applicable to a number of inherited liver diseases. The Company is headquartered in Seattle.
