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PPHM > SEC Filings for PPHM > Form 8-K on 14-Nov-2012All Recent SEC Filings

Show all filings for PEREGRINE PHARMACEUTICALS INC

Form 8-K for PEREGRINE PHARMACEUTICALS INC


14-Nov-2012

Notice of Delisting or Failure to Satisfy a Continued Listing Rule


Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On November 14, 2012, Peregrine Pharmaceuticals, Inc. (the "Company") issued a press release announcing that it received today a notice from The NASDAQ Stock Market indicating that the Company's minimum bid price has fallen below $1.00 for 30 consecutive business days, and therefore, was not in compliance with NASDAQ Marketplace Rule 5550(a)(2). According to the NASDAQ notice, the Company has been provided 180 calendar days, or until May 13, 2013, to regain compliance with this minimum bid price requirement. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of 10 consecutive business days. This notice does not impact the Company's listing on The NASDAQ Stock Market at this time.

If the Company does not regain compliance within the initial 180-day period, but otherwise meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The NASDAQ Capital Market, except for the minimum bid price requirement, and notifies NASDAQ of its intention to take the necessary steps to cure the deficiency during the second compliance period, the Company will be granted an additional 180 calendar days to regain compliance. If the Company is not eligible for an additional compliance period, NASDAQ will notify the Company that its securities will be subject to delisting. At that time, the Company may appeal this determination to delist its securities to a Listing Qualification Panel.

On November 14, 2012, the Company issued a press release announcing its receipt of the letter. A copy of the press release is attached hereto as Exhibit 99.1



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. The following material is filed as an exhibit to this Current Report on Form 8-K:

Exhibit
Number

99.1 Press Release issued November 14, 2012

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