PLX PHARMA INC. : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Financial Statements and Exhibits (form 8-K)

Item 3.01 Notice of Delisting or Failure To Satisfy a Continued Listing Rule or

           Standard; Transfer of Listing.

On October 3, 2022, PLx Pharma Inc. (the "Company") received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying it that, for a period of 30 consecutive business days, the bid price of its common stock closed below the minimum of $1.00 per share required for continued listing on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until April 3, 2023, to regain compliance with the minimum bid price requirement. If, at any time during the 180-day compliance period, the closing bid price of the Company's common stock is at least $1.00 per share for a minimum of 10 consecutive business days, the Company will have regained compliance, and Nasdaq will provide the Company with written confirmation of such.

If the Company fails to regain compliance before April 3, 2023, but meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, the Company may be eligible for additional time to regain compliance with the minimum bid price requirement. To qualify, the Company would be required to provide written notice of its intention to cure the deficiency during the second compliance period, which may include effecting a reverse stock split, if necessary. If the Company met these requirements, Nasdaq would inform the Company that it has been granted an additional 180 calendar days. However, if it appears to Nasdaq that the Company would not be able to cure the deficiency, or if the Company would otherwise not be eligible, then Nasdaq would provide notice to the Company that its securities will be subject to delisting, at which point the Company may appeal the decision to a Nasdaq Hearings Panel.

The Company's common stock will continue to be listed and traded on the Nasdaq Capital Market during the 180-day compliance period, subject to the Company's compliance with the other continued listing requirements of the Nasdaq Capital Market.

Item 9.01 Financial Statements and Exhibits.

(d)  Exhibits

     Exhibit No.      Description
     104              Cover Page Interactive Data File (the cover page XBRL tags
                      are embedded within the Inline XBRL document).

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