Infinity Pharmaceuticals Inc. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
$INFI
Biotechnology: Pharmaceutical Preparations
Health Care
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): September 12, 2023
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On September 12, 2023, Infinity Pharmaceuticals, Inc. (the “Company”) received a delisting determination letter (the “Determination Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”). The Determination Letter indicated that, based on (i) the Company’s continued non-compliance with The Nasdaq Global Select Market’s requirement to maintain a minimum bid price of $1.00 per share under Listing Rule 5450(a)(1) and (ii) the Company’s failure to provide adequate detail regarding its compliance plan to justify the Nasdaq Hearings Panel (the “Panel”) granting an exception to the continued listing standards, the Company’s common stock will be suspended from trading on Nasdaq at the open of business on September 14, 2023 unless the Company requests a review of this decision. The Company does not plan to request a review of the Panel’s decision.
The Company’s common stock may be eligible to be quoted on the Pink Open Market operated by the OTC Markets Group Inc. if a market maker sponsors the security and complies with Rule 15c2-11 under the Securities Exchange Act of 1934, as amended, but the Company can provide no assurances that a public market for trading the Company’s common stock will exist after the expected suspension of trading on September 14, 2023.
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.
| INFINITY PHARMACEUTICALS, INC. | |||||||||||
| Date: September 13, 2023 | By: | /s/ Seth A. Tasker | |||||||||
| Chief Executive Officer | |||||||||||