Current Report Filing (8-k)
04 June 2022 - 6:31AM
Edgar (US Regulatory)
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2022-06-02
2022-06-02
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): June 2, 2022
ONCOSEC
MEDICAL INCORPORATED
(Exact
Name of Registrant as Specified in Charter)
Nevada |
|
000-54318 |
|
98-0573252 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
|
|
|
|
|
24
North Main Street, Pennington, NJ |
|
|
|
08534-2218 |
(Address
of Principal Executive Offices) |
|
|
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (855) 662-6732
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:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
symbol |
|
Name
of each exchange on which registered |
Common
Stock, par value $0.0001 per share |
|
ONCS |
|
Nasdaq
Capital Market |
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. ☐
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
Notice
of Failure to Satisfy a Continued Listing Standard
On
June 2, 2022, OncoSec Medical Incorporated (the “Company”) received notice (the “Notice”) from the Nasdaq Stock
Market LLC (“Nasdaq”) that the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2), as the minimum bid price
of the Company’s common stock has been below $1.00 per share for 30 consecutive business days. The Notice has no immediate effect
on the listing of the Company’s common stock, which will continue to trade at this time on the Nasdaq Capital Market under the
symbol “ONCS.”
In
accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days, or until November 29, 2022, to regain
compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company’s common stock must
meet or exceed $1.00 per share for at least ten consecutive business days during this 180 calendar day period. In the event the Company
does not regain compliance by November 29, 2022, the Company may be eligible for an additional 180 calendar day grace period if it meets
the continued listing requirement for market value of publicly held shares ($1 million) and all other initial listing standards for the
Nasdaq Capital Market, with the exception of the minimum bid price, and provides written notice to Nasdaq of its intention to cure the
deficiency during the second compliance period by effecting a reverse stock split, if necessary. If the Company does not regain compliance
within the allotted compliance period(s), Nasdaq will provide notice that the Company’s common stock will be subject to delisting
from the Nasdaq Capital Market. In that event, the Company may appeal such delisting determination to a hearings panel.
The
Company intends to monitor the closing bid price of its common stock and consider options to resolve its noncompliance with the minimum
bid price requirement.
SIGNATURES
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.
Date:
June 3, 2022 |
OncoSec
Medical Incorporated |
|
|
|
By:
|
/s/
Robert H. Arch |
|
Name: |
Robert
H. Arch |
|
Title: |
President
and Chief Executive Officer |
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