Form 8-K - Current report
January 19 2024 - 4:30PM
Edgar (US Regulatory)
false
0001401914
Dare Bioscience, Inc.
0001401914
2024-01-17
2024-01-17
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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): January 17, 2024
DARÉ
BIOSCIENCE, INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-36395 |
|
20-4139823 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(I.R.S.
Employer
Identification
No.) |
3655
Nobel Drive, Suite 260
San
Diego, CA 92122
(Address
of Principal Executive Offices and Zip Code)
Registrant’s
telephone number, including area code: (858) 926-7655
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 (see General Instruction A.2. below):
☐ |
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 |
|
DARE |
|
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 Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
As
previously reported, on July 19, 2023, Daré Bioscience, Inc. (the “Company”) received a letter from the Listing Qualifications
Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30
consecutive business days, the closing bid price for the Company’s common stock was below the minimum $1.00 per share requirement
for continued listing on The Nasdaq Capital Market as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”).
The Company was provided an initial period of 180 calendar days, or until January 16, 2024, to regain compliance with the Minimum Bid
Price Requirement.
On
January 17, 2024, the Staff notified the Company that because the Company did not timely regain compliance with the Minimum Bid Price
Requirement, the Company’s common stock is subject to delisting from Nasdaq unless the Company timely requests a hearing before
the Nasdaq Hearing Panel (the “Panel”).
The
Company will timely request a hearing before the Panel, which request will stay the delisting of the Company’s common stock pending
the decision of the Panel following the hearing and the expiration of any extension period that may be granted by the Panel. Pursuant
to published Nasdaq guidance, hearings are typically scheduled 30 to 45 days following the hearing request, with the Panel typically
issuing decisions within 30 days of the hearing.
There
can be no assurance that the Company will be successful at the hearing or that the Company will be successful in maintaining the listing
of its common stock on The Nasdaq Capital Market.
This
report contains forward-looking statements, including, but not limited to, the timing of the hearing and the timing of the decision of
the Panel. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied
by such forward-looking statements. In particular, the hearing may be scheduled, and the Panel may issue a decision, more quickly than
expected based on the typical time periods in published Nasdaq guidance, which shorter timeline(s) may be unfavorable for the Company
and the continued listing of the Company’s common stock on The Nasdaq Capital Market. Investors are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date of this report. The Company undertakes no obligation to
update any forward-looking statement in this report, except as required by law.
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.
|
DARÉ
BIOSCIENCE, INC. |
|
|
|
Dated:
January 19, 2024 |
By: |
/s/
Sabrina Martucci Johnson |
|
Name: |
Sabrina
Martucci Johnson |
|
Title: |
President
and Chief Executive Officer |
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