Gyre Therapeutics Amends 8-K on Delisting Notice, Officer Changes

TL;DR

**Gyre Therapeutics just amended an 8-K about delisting risks and officer changes, watch out for volatility!**

AI Summary

Gyre Therapeutics, Inc. filed an 8-K/A on January 19, 2024, amending its previous report from December 11, 2023. This amendment clarifies details regarding a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' and changes in 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers'. This matters to investors because it signals potential issues with the company's stock exchange listing and changes in its leadership and executive compensation, which can impact future stability and performance.

Why It Matters

This filing indicates potential instability for Gyre Therapeutics, Inc. regarding its stock exchange listing and leadership, which could affect investor confidence and the company's operational direction.

Risk Assessment

Risk Level: high — The mention of a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' indicates significant risk to the company's stock trading on an exchange.

Analyst Insight

A smart investor would carefully monitor subsequent filings for more details on the delisting notice and leadership changes, as these could significantly impact the stock's future. Consider the implications of potential delisting on liquidity and valuation.

Key Numbers

• 20240119 — Filed As Of Date (The date the 8-K/A was filed with the SEC.)
• 20231211 — Conformed Period of Report (The date of the earliest event reported in the original 8-K that this amendment refers to.)
• 0001124105 — Central Index Key (CIK) (Unique identifier for Gyre Therapeutics, Inc. with the SEC.)
• 000-51173 — SEC File Number (The SEC file number for Gyre Therapeutics, Inc.)

Key Players & Entities

• Gyre Therapeutics, Inc. (company) — the registrant filing the 8-K/A
• Delaware (company) — state of incorporation for Gyre Therapeutics, Inc.
• 000-51173 (dollar_amount) — Commission File Number for Gyre Therapeutics, Inc.
• 56-2020050 (dollar_amount) — IRS Employer Identification No. for Gyre Therapeutics, Inc.
• 12770 High Bluff Drive Suite 150 San Diego, CA 92130 (company) — principal executive offices of Gyre Therapeutics, Inc.
• (619) 949-3681 (dollar_amount) — telephone number for Gyre Therapeutics, Inc.

Forward-Looking Statements

• Gyre Therapeutics, Inc. stock may experience increased volatility due to delisting concerns. (Gyre Therapeutics, Inc.) — high confidence, target: Q1 2024
• Further details regarding the 'Notice of Delisting' will be disclosed in subsequent filings. (Gyre Therapeutics, Inc.) — medium confidence, target: Q2 2024

FAQ

Key Financial Figures

• $350,000 — employment and an annual base salary of $350,000, an annual bonus to be determined annua

Filing Documents

• ef20019132_8ka.htm (8-K/A) — 34KB
• ef20019132_ex10-1.htm (EX-10.1) — 101KB
• 0001140361-24-002903.txt ( ) — 297KB
• gyre-20231211.xsd (EX-101.SCH) — 4KB
• gyre-20231211_lab.xml (EX-101.LAB) — 22KB
• gyre-20231211_pre.xml (EX-101.PRE) — 16KB
• ef20019132_8ka_htm.xml (XML) — 4KB

01

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard Transfer of Listing. On January 15, 2024, the Company notified the Nasdaq Stock Market LLC ("Nasdaq") that, following Dr. Charles Wu's retirement and resignation as the Company's Chief Executive Officer and as a member of the Board, and Dr. Han Ying's appointment as the Company's Chief Executive Officer, effective on January 15, 2024, to succeed Dr. Wu, Dr. Ying stepped down as a member of the Audit Committee of the Company. The Company has a vacancy on its Audit Committee and intends to rely on the cure period set forth in the Nasdaq Listing Rules while it recruits a new Audit Committee member, as described in more detail below. On January 17, 2024, the Company received a letter from Nasdaq confirming that t he Company is no longer in compliance with Nasdaq's audit committee composition requirements as set forth in Nasdaq Listing Rule 5605, which requires that the audit committee of a listed company be comprised of at least three "independent directors" (as defined in Nasdaq Listing Rule 5605(a)(2)) . Pursuant to Nasdaq Listing Rule 5605(c)(4), the Company intends to rely on the cure period to reestablish compliance with Nasdaq Listing Rule 5605. The cure period is generally defined as until the earlier of the Company's next annual meeting of stockholders or July 15, 2024. The Board is in the process of identifying and selecting a new member of the Board who qualifies as "independent" and would meet the audit committee criteria set forth in Nasdaq Listing Rule 5605. The Board intends to comply fully with Nasdaq audit committee requirements by or before the end of the cure period described above. Item5.02. Departure of Directors or Certain Officers; Election of Directors; Appointments of Certain Officers; Compensatory Arrangements of Certain Officers. Effective as of January 15, 2024, the Board appointed Dr. Renate Parry as Chair of the Board's Compensation Committee,

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Employment Agreement, dated January 15, 2024, by and between Han Ying, Ph.D. and Gyre Therapeutics, Inc. 104 The cover page from the Company's Current Report on Form 8-K formatted in Inline XBRL. SIGNATURE 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. GYRE THERAPEUTICS, INC. Date: January 19, 2024 By: /s/ Han Ying, Ph.D. Name: Han Ying, Ph.D. Title: Chief Executive Officer

View Full Filing

View this 8-K/A filing on SEC EDGAR