Bio-Path Holdings Inc. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On February 14, 2025, the Nasdaq Stock Market LLC (“Nasdaq”) notified Bio-Path Holdings, Inc. (the “Company”) that the Nasdaq Hearings Panel (the “Panel”) has determined to delist the Company’s common stock, par value $0.001 per share (“Common Stock”), and that trading of the Company’s Common Stock will be suspended at the open of trading on February 19, 2025.
As previously reported, on November 19, 2024, the Company was granted an extension until January 31, 2025 from the Panel to demonstrate compliance with Nasdaq Listing Rule 5550(b)(1), which requires listed issuers to maintain minimum stockholders’ equity of $2.5 million (the “Stockholders’ Equity Requirement”). As of January 31, 2025, the Company had not regained compliance with the Stockholders’ Equity Requirement and was denied its request for an additional extension.
In connection with the Nasdaq delisting notice, Nasdaq will complete the delisting by filing a Form 25 Notification of Delisting with the Securities and Exchange Commission after applicable appeal periods have lapsed. As a result of the suspension in trading and expected delisting, the Company expects that its Common Stock will begin trading under its current trading symbol, “BPTH,” on the OTC Markets system starting on the date trading of the Company’s Common Stock is suspended, February 19, 2025.
The Company has 15 days after the date it received notice of the Panel’s decision to request in writing that the Nasdaq Listing and Hearing Review Council (the “Council”) review the decision. In addition, the Council may, on its own motion, determine to review the Panel’s decision within 45 calendar days after the Company was notified of the decision. The Company does not intend to request a review of the decision.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.
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Dated: February 18, 2025 | By: | /s/ Peter H. Nielsen |
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| Peter H. Nielsen |
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| President and Chief Executive Officer |