Form 8-K - Current report
13 November 2024 - 10:30PM
Edgar (US Regulatory)
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0001506251
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2024-11-06
2024-11-06
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
November 6, 2024
Citius Pharmaceuticals, Inc.
(Exact name of registrant as specified in its
charter)
Nevada |
|
001-38174 |
|
27-3425913 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
11 Commerce Drive, 1st Floor, Cranford, NJ |
|
07016 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (908) 967-6677
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, $0.001 par value |
|
CTXR |
|
Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
Item 3.01 Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing;
As previously disclosed, on September 12, 2023,
Citius Pharmaceuticals, Inc. (the “Company”) received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market
LLC (“Nasdaq”) indicating that, based upon the closing bid price of the Company’s common stock, par value $0.001 per
share, for the prior 30 consecutive business days, the Company was not in compliance with the requirement to maintain a minimum bid price
of $1.00 per share for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid
Price Rule”). At that time, the Company was provided a compliance period of 180 calendar days from the date of the original notice,
or until March 11, 2024, to regain compliance with the Bid Price Rule, pursuant to Nasdaq Listing Rule 5810(c)(3)(A). On March 12, 2024,
the Company received formal notice that Nasdaq granted the Company’s request for an extension through September 9, 2024 to evidence
compliance with the Bid Price Rule. As the Company did not regain compliance with the Bid Price Rule by September 9, 2024, the Company
received a delisting determination letter on September 10, 2024. Accordingly, the Company timely requested a hearing before a Nasdaq Hearings
Panel (“Panel”). The hearing request automatically stayed any suspension or delisting action pending the hearing and the expiration
of any additional extension period granted by the Panel following the hearing, which was held on October 29, 2024.
On November 6, 2024, the Company received a decision
letter from the Panel granting the Company’s request to continue its listing on The Nasdaq Capital Market, subject to regaining
compliance with the Bid Price Rule on or before December 3, 2024. It is a requirement during this period that the Company provide prompt
notification of any significant events that occur during this time that may affect the Company’s compliance with Nasdaq requirements.
There can be no assurance that the Company will ultimately meet all applicable requirements for continued listing on The Nasdaq Capital
Market.
Forward-Looking Statements
This Current Report contains “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified
by the use of words such as “should,” “may,” “intends,” “anticipates,” “believes,”
“estimates,” “projects,” “forecasts,” “expects,” “plans,” “proposes”
and similar expressions. Although the Company believes that the expectations reflected in these forward-looking statements are based on
reasonable assumptions, there are a number of risks, uncertainties and other important factors that could cause actual results to differ
materially from such forward-looking statements, including the risk that the Company may not regain compliance with the Bid Price Rule
or otherwise fail to meet the requirements for continued listing under the Nasdaq Listing Rules, among other risks, uncertainties, and
important factors discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year
ended September 30, 2023, as updated by its other filings with the Securities and Exchange Commission. Forward-looking statements speak
only as of the date of the document in which they are contained, and the Company does not undertake any duty to update any forward-looking
statements, except as may be required by law.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
CITIUS PHARMACEUTICALS, INC. |
|
|
|
|
Date: |
November 13, 2024 |
|
/s/ Leonard Mazur |
|
|
|
Leonard Mazur |
|
|
|
Chairman and Chief Executive Officer |
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Cover
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Nov. 06, 2024 |
Cover [Abstract] |
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Document Type |
8-K
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Amendment Flag |
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Document Period End Date |
Nov. 06, 2024
|
Entity File Number |
001-38174
|
Entity Registrant Name |
Citius Pharmaceuticals, Inc.
|
Entity Central Index Key |
0001506251
|
Entity Tax Identification Number |
27-3425913
|
Entity Incorporation, State or Country Code |
NV
|
Entity Address, Address Line One |
11 Commerce Drive
|
Entity Address, Address Line Two |
1st Floor
|
Entity Address, City or Town |
Cranford
|
Entity Address, State or Province |
NJ
|
Entity Address, Postal Zip Code |
07016
|
City Area Code |
908
|
Local Phone Number |
967-6677
|
Written Communications |
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Soliciting Material |
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Pre-commencement Tender Offer |
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Pre-commencement Issuer Tender Offer |
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Title of 12(b) Security |
Common Stock, $0.001 par value
|
Trading Symbol |
CTXR
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
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