Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously disclosed, on
On
The Company intends to submit a hearing request to the
At the Panel hearing, the Company intends to present a plan to regain compliance with the minimum stockholders' equity requirement. In the interim, the Company's common stock will continue to trade on the Nasdaq Capital Market under the symbol "BXRX" at least pending the ultimate conclusion of the hearing process.
There can be no assurance that the Company's plan will be accepted by the Panel or that, if it is, the Company will be able to regain compliance with the applicable Nasdaq listing requirements. If the Company's common stock is delisted, it could be more difficult to buy or sell the Company's common stock or to obtain accurate quotations, and the price of the Company's common stock could suffer a material decline. Delisting could also impair the Company's ability to raise capital.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements. These
express or implied statements are not promises or guarantees and involve
substantial risks and uncertainties. Examples of forward-looking statements
herein include, without limitation, statements regarding the Company's intent or
ability to regain compliance with the minimum stockholders' equity requirement,
the Company's intention to appeal the Staff's determination, the Company's
expectation that a request for a Panel hearing would stay delisting of its
common stock pending the conclusion of the hearing process, the outcome of the
Panel's review of any Company appeal of the Staff's determination, and any
courses of action to regain compliance with the Nasdaq continued listing
requirements. Forward-looking statements are statements that are not historical
facts, nor assurances of future performance. Instead, they are based on the
Company's current beliefs, expectations and assumptions regarding the future of
its business, future plans, strategies, projections, anticipated events and
trends, the economy and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent risks and
uncertainties, and actual results may differ materially from those set forth in
the forward-looking statements. Important factors that could cause actual
results to differ include, without limitation, there can be no assurance that
the Company will meet the stockholders' equity requirement during any compliance
period or otherwise in the future, otherwise meet Nasdaq's compliance standards,
that Nasdaq will grant the Company any relief from delisting as necessary or
whether the Company can ultimately meet applicable Nasdaq requirements for any
such relief. These forward-looking statements should be considered together with
the risks and uncertainties that may affect the Company's business and future
results included in the Company's filings with the
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