Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On January 4, 2023, Titan Pharmaceuticals, Inc. (the "Company") received a
notice (the "Notice") from the Nasdaq Listing Qualifications Staff of The Nasdaq
Capital Market ("Nasdaq") that the Company is in noncompliance with Listing
Rules 5620(a) and 5810(c)(2)(G) as a result of its failure to hold an annual
shareholder meeting within twelve months of the December 31, 2021 fiscal year
end. The Notice has no immediate effect on the Company's listing on the Nasdaq
Capital Market. The Company now has 45 days to submit a plan to regain
compliance. If that plan is accepted by Nasdaq, then the Company may be granted
an exception of up to 180 calendar days from the date of its December 31, 2022
fiscal year end, or until June 29, 2023, to regain compliance. The Company's
failure to regain compliance with standards for continued listing would result
in the ultimate de-listing of its common stock from Nasdaq. In response to the
Notice, the Company intends to schedule an annual meeting of shareholders and to
submit a plan designed to regain compliance in accordance with the requirements
of the Notice and the Nasdaq listing standards.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
104 Cover Page Interactive Data (embedded within the Inline XBRL document).
1
© Edgar Online, source Glimpses