Bio-Path Holdings Faces Delisting, Reports Director Changes

TL;DR

BPTH might get delisted, directors are out, new ones in, and they're voting on stuff.

AI Summary

Bio-Path Holdings, Inc. filed an 8-K on December 13, 2024, reporting a notice of delisting or failure to meet continued listing rules. The filing also covers the departure of directors, election of directors, appointment of officers, and compensatory arrangements. Additionally, it details the submission of matters to a vote of security holders and includes financial statements and exhibits.

Why It Matters

This filing indicates potential delisting from a stock exchange, which could significantly impact the liquidity and trading of Bio-Path Holdings' stock.

Risk Assessment

Risk Level: high — The primary risk is the potential delisting of the company's stock from an exchange, which severely impacts its marketability and investor confidence.

Key Players & Entities

• BIO-PATH HOLDINGS, INC. (company) — Registrant
• December 12, 2024 (date) — Earliest event reported
• December 13, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share BPTH The Nasdaq Capital M
• $1.00 — y did not meet the minimum bid price of $1.00 per share required for continued listin

Filing Documents

• tm2431094d1_8k.htm (8-K) — 55KB
• tm2431094d1_ex10-1.htm (EX-10.1) — 7KB
• 0001104659-24-128517.txt ( ) — 238KB
• bpth-20241212.xsd (EX-101.SCH) — 3KB
• bpth-20241212_lab.xml (EX-101.LAB) — 33KB
• bpth-20241212_pre.xml (EX-101.PRE) — 22KB
• tm2431094d1_8k_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On December 12, 2024, Bio-Path Holdings, Inc. (the "Company") received a letter (the "Letter") from the Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq") indicating that, based upon the closing bid price of the Company's common stock for the last 30 consecutive business days, the Company did not meet the minimum bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Rule"). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until June 10, 2025, to regain compliance with the Rule. The Letter also indicated that if at any time before June 10, 2025 the closing bid price for the Company's common stock is at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide written notification to the Company that it complies with the Rule. The Letter has no effect on the listing of the Company's common stock at this time, and the Company's common stock will continue to trade on The Nasdaq Capital Market under the symbol "BPTH." If the Company does not regain compliance with the Rule by June 10, 2025, the Company may be eligible for a second compliance period of 180 calendar days, provided that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and notifies Nasdaq of the Company's intention to cure the deficiency during such second compliance period, including by effecting a reverse stock split, if necessary. If the Company does not regain compliance with the Rule by June 10, 2025 and is not eligible for a second compliance period at that time, Nasdaq will provide written notification to the Company that its

02 Departure of Directors or Certain Officers; Election of

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The Company held its 2024 annual meeting (the "Annual Meeting") of stockholders of the Company on December 12, 2024 in The Woodlands, Texas. At the Annual Meeting, the Company's stockholders approved an amendment (the "Amendment") to the Bio-Path Holdings, Inc. 2022 Stock Incentive Plan (the "2022 Plan") to increase the number of shares of the Company's common stock that may be issued under the 2022 Plan by 1,200,000 shares for a total of 1,265,000 shares. A description of the 2022 Plan is set forth in the Company's definitive proxy statement filed with the Securities and Exchange Commission on October 28, 2024 under the heading "Proposal Three: Approval Of An Amendment To The Company's 2022 Stock Incentive Plan To Increase The Number Of Shares Of Common Stock That May Be Issued Under The Plan By 1,200,000 Shares For A Total Of 1,265,000 Shares," which description is incorporated herein by reference. This summary is qualified in its entirety by the full text of the Amendment, which is filed as Exhibit 10.1 hereto, and the 2022 Plan, which is filed as Exhibit 10.2 hereto.

07 Submission of Matters to a Vote of

Item 5.07 Submission of Matters to a Vote of Security Holders. On December 12, 2024, the Company called to order its Annual Meeting of Stockholders. At the Annual Meeting, the Company's stockholders: (i) elected the five persons listed below under Proposal 1 to serve as directors of the Company, to hold office until the Company's next annual meeting of stockholders or until their respective successors have been duly elected and qualified; (ii) ratified and approved the appointment of Ernst & Young, LLP as the Company's independent registered public accounting firm for the Company's fiscal year ending December 31, 2024, (iii) approved an amendment to the Company's 2022 Stock Incentive Plan to increase the number of shares of common stock that may be issued under the plan by 1,200,000 shares for a total 1,265,000 shares, (iv) approved an amendment to the Company's Certificate of Incorporation to effect a reverse stock split of the Company's common stock, par value $0.001 per share, at a ratio of up to 1-for-30, to be determined by the Board, (v) approved the issuance of more than 20% of our common stock pursuant to the private placement that closed on October 10, 2024 (the "Private Placement") and Nasdaq Listing Rule 5635(d) and (vi) approved an adjournment of the Annual Meeting to a later date or dates, if necessary, to solicit additional proxies if there are not sufficient votes in favor of Proposal Four. While the adjournment proposal was approved, because Proposal Four was approved, the adjournment proposal was not necessary. The following describes the results of the voting at the Annual Meeting: Proposal 1 : For the election of directors of the Company, to hold office until the Company's next annual meeting of stockholders or until their respective successors have been duly elected and qualified: Name of Nominee Shares Voted "For" Shares Voted "Against" Shares Withheld Shares Abstained Broker Non- Votes Peter H. Nielsen 574,606 -- 131,201 -

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description 10.1 First Amendment to Bio-Path Holding, Inc. 2022 Stock Incentive Plan 10.2 Bio-Path Holdings, Inc. 2022 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on December 20, 2022). 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL (included as Exhibit 101).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BIO-PATH HOLDINGS, Inc. Dated: December 13, 2024 By: /s/ Peter H. Nielsen Peter H. Nielsen President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR