UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
Commission File No.
(Exact name of small business issuer as specified in its charter)
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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 (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
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| Name of each exchange on which registered |
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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. ☐
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Item 1.01 | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
Previously Disclosed Background
As previously disclosed, on June 23, 2023, Soligenix, Inc. (the “Company”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Rule”) because the Company’s common stock failed to maintain a minimum closing bid price of $1.00 for 30 consecutive trading days. On December 21, 2023, the Company received written notice from Nasdaq stating that the Company had not complied with the Minimum Bid Price Rule and indicating that the Company’s common stock would be suspended from trading on Nasdaq unless the Company requested a hearing before a hearings panel by December 28, 2023.
On March 26, 2024, the Company had an oral hearing with a Nasdaq Hearings Panel to appeal the delisting determination, which stayed the trading suspension of the Company’s common stock pending a final written decision by the Nasdaq Hearings Panel and expiration of any additional extension period granted by the panel following the hearing.
The Company effected a 1-for-16 reverse stock split on June 5, 2024 in order to regain compliance with the Minimum Bid Price Rule. Since the reverse stock split, the closing price for the Company’s common stock has been above $1.00 per share.
New Disclosure
On July 24, 2024, the Company received a letter from Nasdaq confirming that the Company had regained compliance with the Minimum Bid Price Rule. Accordingly, the Nasdaq Hearings Panel determined to continue the listing of the Company’s common stock and closed the matter.
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SIGNATURE
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 hereunto duly authorized.
| Soligenix, Inc. | |
July 25, 2024 | By: | /s/ Christopher J. Schaber |
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| Christopher J. Schaber, Ph.D. |
President and Chief Executive Officer | ||
(Principal Executive Officer) | ||
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Document and Entity Information |
Jul. 24, 2024 |
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| Document and Entity Information [Abstract] | |
| Document Type | 8-K |
| Document Period End Date | Jul. 24, 2024 |
| Entity File Number | 001-14778 |
| Entity Registrant Name | Soligenix, Inc. |
| Entity Incorporation, State or Country Code | DE |
| Entity Tax Identification Number | 41-1505029 |
| Entity Address, Address Line One | 29 Emmons Drive |
| Entity Address, Adress Line Two | Suite B-10 |
| Entity Address, City or Town | Princeton |
| Entity Address, State or Province | NJ |
| Entity Address, Postal Zip Code | 08540 |
| City Area Code | 609 |
| Local Phone Number | 538-8200 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock, par value $.001 per share |
| Trading Symbol | SNGX |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |
| Entity Central Index Key | 0000812796 |
| Amendment Flag | false |