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TELK > SEC Filings for TELK > Form 8-K on 15-Jan-2014All Recent SEC Filings

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Form 8-K for TELIK INC


Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfe

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

On November 14, 2013, we received from the Listing Qualifications Staff (the "Staff") of The NASDAQ Stock Market LLC ("NASDAQ") a notice indicating that we no longer satisfied the minimum $2,500,000 stockholders' equity requirement for continued listing on The NASDAQ Capital Market, set forth in NASDAQ Listing Rule 5550(b)(1), and providing us the opportunity to submit a plan to regain compliance with that requirement for the Staff's review. On December 30, 2013, we submitted to NASDAQ a plan to regain compliance.

On January 9, 2014, following its review of the plan, we received from NASDAQ a notice that the Staff had determined to delist our securities based on the stockholders' equity deficiency unless we request a hearing before the NASDAQ Listing Qualifications Panel (the "Panel"). We intend to request a hearing before the Panel, at which time we will present our plan to evidence compliance with the requirements for continued listing on the NASDAQ Capital Market. Our securities will remain listed on The Nasdaq Capital Market pending the ultimate outcome of the hearing. Although we are working diligently to regain compliance, there can be no assurance that the Panel will grant our request for continued listing.

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