Eagle Pharmaceuticals delays annual report on Form 10-K filing

In a regulatory filing, Eagle Pharmaceuticals said that on October 1, the company notified the hearings panel of The Nasdaq Stock Market LLC that the company did not anticipate filing its previously anticipated comprehensive Annual Report on Form 10-K for the period ended December 31, 2023, including restated financial information for the period ended June 30, 2023, financial information for the period ended September 30, 2023 and financial statements for the period ended December 31, 2023, a separate Quarterly Report on Form 10-Q for the period ended March 31, 2024, or a separate Quarterly Report on Form 10-Q for the period ended June 30, 2024 by the dates required to regain compliance with Nasdaq Listing Rules. On October 1, 2024, the company received a notice from the Panel stating that it had determined to delist the company’s common stock from Nasdaq and, effective at the open of business on October 3, 2024, to suspend trading of the company’s common stock on Nasdaq, as a result of the company’s failure to comply with the terms of the previously disclosed extension granted by the Panel to regain compliance with the Listing Rule. Nasdaq will complete the delisting by filing a Form 25 Notification of Delisting with the U.S. SEC after applicable appeal periods have lapsed, which will remove the company’s securities from listing and registration on Nasdaq. The company has not requested that the Nasdaq Listing and Hearing Review Council review the Panel’s decision. Following the suspension of trading in the company’s common stock on Nasdaq, the company expects that its common stock will be eligible for trading on the OTC Expert Market. As a result of the foregoing, the price of the company’s common stock will likely be adversely affected and there will be a decrease in the liquidity of the company’s common stock.