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Share Name | Share Symbol | Market | Type |
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Kintara Therapeutics Inc | NASDAQ:KTRA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0075 | 5.05% | 0.156101 | 0.1561 | 0.1563 | 0.1587 | 0.1486 | 0.1498 | 1,816,856 | 18:00:33 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
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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:
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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 reported, on September 20, 2023, Kintara Therapeutics, Inc. (the “Company”), received a letter from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market under Listing Rule 5550(b) (the “Stockholders’ Equity Requirement”). On November 6, 2023, the Company submitted to the Staff a plan to regain compliance with the Stockholders’ Equity Requirement. On December 4, 2023, the Staff provided notice (the “Notice”) to the Company that it granted an extension of up to 180 days from September 20, 2023, or through March 18, 2024, to regain compliance with the Stockholders’ Equity Requirement, conditioned upon the Company’s achievement of certain milestones included in the plan of compliance previously submitted to the Staff. If the Company fails to evidence compliance upon filing its periodic report for the quarter ending March 31, 2024 by March 18, 2024, it may be subject to delisting. If the Staff determines to delist the Company’s common stock, the Company will have the right to appeal to a Nasdaq hearings panel. There can be no assurance that the Company will regain compliance with the Stockholders’ Equity Requirement during the extension period.
The Notice has no immediate effect on the listing of the Company’s common stock and the Company’s common stock continues to trade on the Nasdaq Capital Market under the symbol “KTRA,” subject to the Company’s compliance with the other continued listing requirements.
On December 5, 2023, the Company issued a press release announcing that Nasdaq had granted its request for an extension of time to regain compliance with the Stockholders’ Equity Requirement. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
Exhibit No. |
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Description |
99.1 |
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Press Release of Kintara Therapeutics, Inc. issued December 5, 2023 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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KINTARA THERAPEUTICS, INC. |
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Date: December 5, 2023 |
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By: |
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/s/ Robert E. Hoffman |
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Name: Robert E. Hoffman |
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Title: Chief Executive Officer |
Exhibit 99.1
Kintara Therapeutics Granted Extension by Nasdaq to Regain Compliance with the Stockholders’ Equity Continued Listing Requirement
SAN DIEGO, December 5, 2023/PRNewswire/ -- Kintara Therapeutics, Inc. (Nasdaq: KTRA) (“Kintara” or the “Company”), a biopharmaceutical company focused on the development of new solid tumor cancer therapies, today announced that it received notice from the Staff of the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Staff has determined to grant the Company an extension of time to regain compliance with Listing Rule 5550(b) (the “Rule”). The Rule requires a minimum $2,500,000 stockholders’ equity, $35,000,000 market value of listed securities, or $500,000 net income from continuing operations.
On November 6, 2023, the Company submitted its plan of compliance to the Staff. On December 4, 2023, the Staff provided notice to the Company that the Staff had granted an extension until March 18, 2024 to regain compliance with the Rule, conditioned upon the Company’s achievement of certain milestones included in the plan of compliance previously submitted to the Staff.
If the Company fails to evidence compliance upon filing its periodic report for the quarter ending March 31, 2024 with the SEC and Nasdaq, the Company may be subject to delisting. In the event the Company does not satisfy these terms, the Staff will provide written notification that its common stock will be delisted. At that time, the Company may appeal Staff’s determination to a Nasdaq Hearings Panel (the “Panel”). The Company would remain listed pending the Panel’s decision. There can be no assurance that if the Company does appeal a subsequent delisting determination, that such appeal would be successful.
Nasdaq’s extension notice has no immediate effect on the continued listing status of the Company’s common stock on the Nasdaq Capital Market under the symbol “KTRA”.
ABOUT KINTARA
Located in San Diego, California, Kintara is dedicated to the development of novel cancer therapies for patients with unmet medical needs. Kintara develops therapeutics for clear unmet medical needs with reduced risk development programs. The Company’s lead program is REM-001 Therapy for cutaneous metastatic breast cancer (CMBC).
Kintara has a proprietary, late-stage photodynamic therapy platform that holds promise as a localized cutaneous, or visceral, tumor treatment as well as in other potential indications. REM-001 Therapy, which consists of the laser light source, the light delivery device, and the REM-001 drug product, has been previously studied in four Phase 2/3 clinical trials in patients with CMBC who had previously received chemotherapy and/or failed radiation therapy. In CMBC, REM-001 has a clinical efficacy to date of 80% complete responses of CMBC evaluable lesions and an existing robust safety database of approximately 1,100 patients across multiple indications.
For more information, please visit www.kintara.com or follow us on X at @Kintara_Thera, Facebook and Linkedin.
SAFE HARBOR STATEMENT
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s ability to regain compliance with the Rule. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the status of the Company’s clinical trials; the topline results of the GBM AGILE Study; the Company’s review of strategic alternatives; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies; and global unrest. These and other factors are identified and described in more detail in the Company's filings with the SEC, including the Company's Annual Report on Form 10-K for the year ended June 30, 2023, the Company's Quarterly Reports on Form 10-Q, and the Company's Current Reports on Form 8-K.
CONTACTS
Investors:
Robert E. Hoffman
Kintara Therapeutics
rhoffman@kintara.com
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Cover |
Dec. 04, 2023 |
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Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Dec. 04, 2023 |
Entity File Number | 001-37823 |
Entity Registrant Name | KINTARA THERAPEUTICS, INC. |
Entity Central Index Key | 0001498382 |
Entity Tax Identification Number | 99-0360497 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 9920 Pacific Heights Blvd |
Entity Address, Address Line Two | Suite 150 |
Entity Address, City or Town | San Diego |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 92121 |
City Area Code | 858 |
Local Phone Number | 350-4364 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock |
Trading Symbol | KTRA |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
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