Dogwood Therapeutics Faces Delisting Concerns
Ticker: DWTX · Form: 8-K · Filed: Nov 21, 2024 · CIK: 1818844
| Field | Detail |
|---|---|
| Company | Dogwood Therapeutics, INC. (DWTX) |
| Form Type | 8-K |
| Filed Date | Nov 21, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $2,500,000 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, stock-exchange
Related Tickers: DWTX
TL;DR
Dogwood Therapeutics is on the chopping block for delisting.
AI Summary
Dogwood Therapeutics, Inc. (formerly Virios Therapeutics, Inc.) filed an 8-K on November 21, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The company's principal executive offices are located at 44 Milton Avenue, Alpharetta, GA 30009.
Why It Matters
This filing indicates potential financial distress or non-compliance with stock exchange rules, which could significantly impact the company's stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a severe indicator of financial instability and potential bankruptcy.
Key Numbers
- 20241115 — Earliest Event Date (Date of earliest event reported in the 8-K)
- 20241121 — Filing Date (Date the 8-K was filed with the SEC)
Key Players & Entities
- Dogwood Therapeutics, Inc. (company) — Registrant
- Virios Therapeutics, Inc. (company) — Former company name
- 44 Milton Avenue, Alpharetta, GA 30009 (location) — Principal executive offices
FAQ
What specific listing rule or standard has Dogwood Therapeutics failed to satisfy?
The filing does not specify the exact listing rule or standard that Dogwood Therapeutics has failed to satisfy, only that a notice has been issued.
What is the former name of Dogwood Therapeutics, Inc.?
The former name of Dogwood Therapeutics, Inc. was Virios Therapeutics, Inc., with a name change date of December 17, 2020.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on November 15, 2024.
Where are Dogwood Therapeutics, Inc.'s principal executive offices located?
Dogwood Therapeutics, Inc.'s principal executive offices are located at 44 Milton Avenue, Alpharetta, GA 30009.
What is the SEC file number for Dogwood Therapeutics, Inc.?
The SEC file number for Dogwood Therapeutics, Inc. is 001-39811.
Filing Stats: 927 words · 4 min read · ~3 pages · Grade level 14.9 · Accepted 2024-11-21 09:15:22
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 DWTX Nasdaq Capital Market Check t
- $2,500,000 — ockholders' equity has fallen below the $2,500,000 required minimum for continued listing
Filing Documents
- dwtx-20241115x8k.htm (8-K) — 39KB
- 0001558370-24-015884.txt ( ) — 158KB
- dwtx-20241115.xsd (EX-101.SCH) — 3KB
- dwtx-20241115_lab.xml (EX-101.LAB) — 16KB
- dwtx-20241115_pre.xml (EX-101.PRE) — 10KB
- dwtx-20241115x8k_htm.xml (XML) — 5KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On November 15, 2024, Dogwood Therapeutics, Inc. (the "Company") received a letter (the "Letter") from the Nasdaq Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that its amount of stockholders' equity has fallen below the $2,500,000 required minimum for continued listing set forth in Nasdaq Listing Rule 5550(b)(1). Nasdaq's determination was based upon the Company's stockholders' equity as reported in the Company's Quarterly Report on Form 10-Q for the period ended September 30, 2024, which reflects the Company's stockholders' equity prior to the consummation of the Company's acquisition of Pharmagesic (Holdings) Inc. on October 7, 2024. The Letter also noted that the Company does not meet the alternatives of market value of listed securities or net income from continuing operations, and therefore, the Company no longer complies with Nasdaq's Listing Rules. This Letter has no immediate effect on the listing of the Company's common stock on the Nasdaq Capital Market, and, therefore, the Company's listing currently remains fully effective. Under Nasdaq Listing Rules, the Company has until December 30, 2024 to provide Nasdaq with a plan to achieve and sustain compliance. If Nasdaq accepts the Company's plan to regain compliance, Nasdaq may grant an extension of up to 180 calendar days from the date of the Letter to evidence compliance. If Nasdaq does not accept the Company's plan to regain compliance, the Company will have the opportunity to appeal the decision to a Nasdaq Hearings Panel. The Company intends to submit to Nasdaq, within the requisite time period, a plan to regain compliance with Listing Rule 5550(b)(1). While the Company is confident that its forthcoming plan will restore compliance with the Nasdaq Listing Rules, there can be no assurance that Nasdaq will accept the Company's plan
SIGNATURES
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. DOGWOOD THERAPEUTICS, INC. By: /s/ Angela Walsh Name: Angela Walsh Title: Chief Financial Officer, Corporate Secretary and Treasurer November 21, 2024 3