Current Report Filing (8-k)
August 07 2015 - 4:25PM
Edgar (US Regulatory)
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): August 5, 2015
VICAL INCORPORATED
(Exact name of registrant as specified in its charter)
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Delaware |
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000-21088 |
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93-0948554 |
(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(I.R.S. Employer
Identification No.) |
10390 Pacific Center Court
San Diego, California |
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92121-4340 |
(Address of principal executive offices) |
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(Zip Code) |
Registrants telephone number, including area code: (858) 646-1100
Not Applicable.
(Former
name or former address, if changed since last report.)
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 3.01. |
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing |
On August 5, 2015, Vical Incorporated (the Company) received a letter from The Nasdaq Stock Market indicating that for
30 consecutive business days the Companys common stock had not maintained a minimum closing bid price of $1.00 per share (Minimum Bid Price Requirement) as required by Nasdaq Listing Rules. This notice of noncompliance
has had no immediate impact on the continued listing or trading of the Companys common stock on the Nasdaq Global Select Market.
Under Nasdaq Listing Rule 5810(c)(3)(A), if during the 180 calendar days following the date of the notification (the Compliance
Period) ending on February 1, 2016, the closing bid price of the Companys common stock is at or above $1.00 for a minimum of ten consecutive business days, the Company will regain compliance with the Minimum Bid Price Requirement
and the common stock will continue to be eligible for listing on the Nasdaq Global Select Market.
If the Company does not achieve
compliance with the Minimum Bid Price Requirement by the end of the Compliance Period, under Nasdaq Listing Rule 5810(c)(3)(A)(ii), if on the last day of the Compliance Period, the Company is in compliance with the market value requirement for
continued listing, as well as all other standards for initial listing of its common stock on the Nasdaq Capital Market (other than the Minimum Bid Price Requirement), and the Company provides written notice of its intention to cure the deficiency
during a second compliance period, Nasdaq may grant the Company an additional Compliance Period through August 1, 2016.
If the
Company receives a Staff Delisting Determination, the Company may, at that time, request in writing that a Nasdaq Hearing Panel review the matter in a written or an oral hearing. Such a review, if granted, would stay delisting until a Panel
ruling. After the Nasdaq Hearing Panel determination is final, the Company may then appeal the Hearing Panel decision to the Listing Council. If granted, such an appeal would not stay the Hearing Panel decision.
The Company intends to monitor the closing bid price of its common stock and may, if appropriate, consider implementing available options to
regain compliance with the Minimum Bid Price Requirement under the Nasdaq Listing Rules.
SIGNATURES
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.
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VICAL INCORPORATED |
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Date: August 7, 2015 |
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By: |
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/s/ VIJAY B. SAMANT |
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Vijay B. Samant |
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Chief Executive Officer |
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