Item 8.01. Other Events.
On March 16, 2023, Titan Pharmaceuticals, Inc. (the "Company") received a letter
from the Listing Qualifications staff of The Nasdaq Stock Market ("Nasdaq")
notifying the Company that it is no longer in compliance with the minimum bid
price requirement for continued listing on the Nasdaq Capital Market. Nasdaq
Listing Rule 5550(a)(2) requires listed companies to maintain a minimum bid
price of $1.00 per share. The letter noted that the bid price of the Company's
common stock was below $1.00 for the 30-day period ending March 15, 2023.
The notification letter has no immediate effect on the Company's listing on the
Nasdaq Capital Market. Nasdaq has provided the Company with 180 days, or until
September 12, 2023, to regain compliance with the minimum bid price requirement
by having a closing bid price of at least $1.00 per share for a minimum of 10
consecutive business days.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
104 Cover Page Interactive Data (embedded within the Inline XBRL document).
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