Eagle Pharmaceuticals says unlikely to file Form 10-Q or 10-K by May 13

In a press release after the market close on Friday, Eagle Pharmaceuticals announced that it received a notice on April 8 from the Listing Qualifications Department of The Nasdaq Stock Market advising the company that due to the company’s failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission, the company is not in compliance with Nasdaq’s continued listing requirements. “The company must submit an update to the Plan by April 23, 2024, to include the company’s plans to file the Form 10-K, and the company plans to include in such update that the company believes it is unlikely that it will file the Form 10-Q or the Form 10-K by the May 13, 2024, extension deadline. Pursuant to the Initial Notice, if the company fails to regain compliance prior to the expiration of such extension period, Nasdaq would provide written notification that the company’s securities would be subject to delisting. However, in response to the company’s updated Plan, Nasdaq may determine that the Company will not be able to become current in its filing obligations by the May 13, 2024, extension deadline and could accelerate the issuance of a delisting notice. In the event the company receives such a delisting notice, the company may request a hearing before an independent Nasdaq Hearings Panel. The hearing request would automatically stay any suspension or delisting action for 22 calendar days from the date of the delisting notification. In connection with the hearing request, the company may request that the stay be extended through the conclusion of the hearings process and the expiration of any additional extension period granted by the Panel following the hearing. There can be no assurance that any hearing would be successful, that an extended stay or additional extension would be granted, that the company will be able to regain compliance with the Rule or maintain compliance with the other continued listing requirements set forth in the Nasdaq Listing Rules or that the company will be able to continue its listing on Nasdaq,” Eagle stated.