UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On May 17, 2022, Cocrystal Pharma, Inc. (the “Company”) received a letter from the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the Company is eligible for a second 180 calendar day period, or until November 14, 2022 (the “Second Grace Period”), to regain compliance with the Nasdaq Listing Rule 5550(a)(2) (the “Rule”). As of the date of the letter, the Company remained noncompliant with the Rule by failing to maintain a minimum bid price for its common stock of at least $1.00 per share for 30 consecutive business days. Prior to the recent letter, the Company had received the original notice of noncompliance with the Rule from Nasdaq wherein the Company had been given until May 16, 2022 to regain compliance.
The Company expects to effect a reverse stock split if needed to regain compliance with the Rule prior to the expiration of the Second Grace Period.
The letter has no immediate impact on the listing of the Company’s common stock, which will continue to be listed and traded on The Nasdaq Capital Market, subject to the Company’s compliance with the other continued listing requirements of The Nasdaq Capital Market.
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.
| Cocrystal Pharma, Inc. | ||
| Date: May 19, 2022 | By: | /s/ James Martin |
| Name: | James Martin | |
| Title: | Co-Interim Chief Executive Officer and Chief Financial Officer | |