Business Context and Reporting Period
This Form 8-K was filed by Aerpio Pharmaceuticals, Inc. (trading symbol: ARPO) on January 21, 2020. The filing addresses a notice received from the Nasdaq Stock Market regarding the company's compliance with listing standards. Note: The request metadata references "Whitehawk Therapeutics, Inc.," but the source text explicitly identifies the registrant as Aerpio Pharmaceuticals, Inc.
Key Financial Metrics
The filing text does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on regulatory compliance regarding stock price.
Material Changes
The primary material event is the extension of the cure period for non-compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum closing bid price of $1.00 per share.
- Previous Status: The company failed to regain compliance by the initial deadline of January 20, 2020, after a 30-day period of non-compliance starting July 24, 2019.
- Current Status: Nasdaq granted an additional 180 calendar days to regain compliance, extending the deadline to July 20, 2020.
- Proposed Remedy: The company indicated plans to effect a reverse stock split if necessary to meet the minimum bid price requirement.
Outlook, Risks, and Contingencies
Compliance Requirement: To maintain listing, the company must achieve a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days before July 20, 2020.
Delisting Risk: If compliance is not demonstrated by the July 20, 2020 deadline, the company's common stock will be subject to delisting.
Appeal Process: In the event of a delisting determination, the company may appeal to a Nasdaq Hearing Panel. The company expects its stock to remain listed pending the panel's decision, though there is no assurance of a successful appeal.
Investor Verification Checklist
- Verify the current trading price of ARPO to assess proximity to the $1.00 threshold.
- Monitor for announcements regarding the execution of a reverse stock split.
- Track the company's stock price performance over the next 10 consecutive business days to determine if compliance is achieved.
- Review future filings for updates on the July 20, 2020 compliance deadline.