Business Context and Reporting Period
This Form 8-K was filed by Capricor Therapeutics, Inc. on December 26, 2018, regarding a notice received from the Nasdaq Stock Market. The company is a Delaware corporation headquartered in Beverly Hills, California.
Key Financial Metrics
This filing does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on regulatory compliance regarding stock listing standards.
Material Changes
The material event reported is the receipt of a written notice from Nasdaq indicating non-compliance with the minimum bid price requirement (Rule 5550(a)(2)). The company's common stock closing bid price remained below $1.00 for 30 consecutive business days, from November 8, 2018, through December 24, 2018.
Guidance, Outlook, and Risks
- Compliance Period: The company has been granted a 180-calendar-day compliance period ending June 24, 2019, to regain compliance.
- Path to Compliance: To satisfy the requirement, the minimum closing bid price must be at least $1.00 for a minimum of ten consecutive business days during the compliance period.
- Trading Status: The notice has no immediate effect on the listing or trading of the common stock on The Nasdaq Capital Market.
- Risks: There is no assurance that the company will successfully regain compliance or maintain its listing. The company is currently evaluating potential actions to address the deficiency.
Investor Verification Checklist
- Verify the current closing bid price of Capricor Therapeutics common stock to assess progress toward the $1.00 threshold.
- Monitor future filings for updates on the company's strategy to regain compliance before the June 24, 2019 deadline.
- Review the company's most recent 10-K or 10-Q filings for financial health metrics not included in this 8-K.
- Confirm whether the company has announced any reverse stock splits or other capital actions intended to address the bid price deficiency.