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's noncompliance with Rule 5550(a)(2) serves as an additional basis for delisting the Company's securities from the Nasdaq Capital Market and the Panel will consider this matter in rendering a determination regarding the Company's continued listing on the Nasdaq Capital Market. At the Panel hearing, the Company intends to present a plan to regain compliance with both Rule 5550(b) and Rule 5550(a)(2). 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 such 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 Rule 5550(b) and Rule 5550(a)(2), the outcome
of the Panel hearing, 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, the Company's ability to
regain compliance with Rule 5550(b) and Rule 5550(a)(2), or otherwise meet
Nasdaq's compliance standards, whether 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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