Enochian BioSciences Announces Receipt of Notice from Nasdaq Regarding Delayed Filing of Form 10-Q for the Period Ended September 30, 2022
30 Novembro 2022 - 7:20PM
(NASDAQ: ENOB) -- On November 23, 2022, Enochian BioSciences Inc.
(the "Company") received a notice (the "Notice") from The Nasdaq
Stock Market LLC ("Nasdaq") stating that because the Company has
not yet filed its Form 10-Q for the period ended September 30, 2022
(the “Form 10-Q”), the Company remains in non-compliance with
Nasdaq Listing Rule 5250(c)(1), which requires listed companies to
timely file all required periodic financial reports with the
Securities and Exchange Commission (the "SEC"). As previously
disclosed on Form 8-K filed with the Securities and Exchange
Commission on October 21, 2022, on October 17, 2022, the Company
previously received a notice from Nasdaq indicating that as a
result of not having timely filed its Annual Report on Form 10-K
for the period ended June 30, 2022 (the "Form 10-K"), the Company
was not in compliance with Nasdaq Listing Rule 5250(c)(1).
As previously disclosed, the Company currently
believes the delay in the filing of the Form 10-K and Form 10-Q is
due to one issue resulting from the continued work being done by a
third-party valuator on a company asset.
This notification has no immediate effect on the
listing of the Company’s shares on Nasdaq. However, if the Company
fails to timely regain compliance with the Nasdaq Listing Rule, the
Company’s common stock will be subject to delisting from
Nasdaq.
Under Nasdaq rules, the Company has 60 calendar
days from the prescribed due date for filing the Form 10-K, or
December 16, 2022, to either file the Form 10-K or to submit to
Nasdaq a plan to regain compliance with the Nasdaq Listing Rule. If
the Company does not file the Form 10-K but submits a plan to
regain compliance, and Nasdaq accepts the Company’s plan, then
Nasdaq may grant the Company up to 180 days from the prescribed due
date for filing the Form 10-K, or April 11, 2023, to regain
compliance. If Nasdaq does not accept the Company’s plan, then the
Company will have the opportunity to appeal that decision to a
Nasdaq Hearings Panel.
Forward-Looking Statements
Statements in this press release that are not
strictly historical in nature are forward-looking statements. These
statements are only predictions based on current information and
expectations and involve a number of risks and uncertainties,
including but not limited to the success or efficacy of our
pipeline. All statements other than historical facts are
forward-looking statements, which can be identified by the use of
forward-looking terminology such as “believes,” “plans,” “expects,”
“aims,” “intends,” “potential,” or similar expressions. Actual
events or results may differ materially from those projected in any
of such statements due to various uncertainties, including as set
forth in Enochian BioSciences Inc.’ most recent Annual Report on
Form 10-K filed with the SEC. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. All forward-looking statements are
qualified in their entirety by this cautionary statement, and
Enochian BioSciences Inc. undertakes no obligation to revise or
update this press release to reflect events or circumstances after
the date hereof.
Source: Enochian Biosciences Inc.
Contact: ir@enochianbio.com
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