UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): February 11, 2016
CASI PHARMACEUTICALS, INC.
(Exact Name of Registrant as Specified in its Charter)
DELAWARE
(State or other jurisdiction
of incorporation or organization) | 0-20713 (Commission File Number) | 58-1959440
(IRS Employer Identification
No.) |
9620 Medical Center Drive, Suite 300
Rockville, Maryland
______________________
(Address of principal executive offices)
20850
____________________
(Zip Code)
(240) 864-2600
_____________________
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
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)) |
Item 8.01 Other Events.
As previously reported, on January 13, 2016, the Company received a letter (the “Notification Letter”) from The NASDAQ Stock Market (“NASDAQ”) notifying the Company that, for the last 30 consecutive business days, the Company had failed to comply with Nasdaq Listing Rule 5550(b)(2), which requires the Company to maintain a minimum “Market Value of Listed Securities” of $35 million for continued listing on the Nasdaq Capital Market. The Notification Letter also stated that the Company did not meet the alternative requirements under Listing Rules 5550(b)(1) or 5550(b)(3).
After giving effect to the proceeds received in the initial closing of a private placement of its securities, the Company reported on February 10, 2016 that it believed that it satisfied the equity standard under Listing Rule 5550(b)(1). By letter dated February 11, 2016, NASDAQ notified the Company that it had regained compliance for continued listing under this alternative standard.
The Company’s ability to maintain compliance with the NASDAQ continued listing standards, including the $1.00 minimum bid price requirement, and other NASDAQ Listing Rules, is subject to numerous risks and uncertainties.
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.
| | CASI PHARMACEUTICALS, INC. |
| | |
| | /s/ Cynthia W. Hu |
| | Cynthia W. Hu |
| | Chief Operating Officer, General Counsel & Secretary |
| | |
| Date: February 17, 2016 | |
