Scorpius Holdings Faces Delisting Concerns
Ticker: SCPX · Form: 8-K · Filed: May 24, 2024 · CIK: 1476963
| Field | Detail |
|---|---|
| Company | Scorpius Holdings, Inc. (SCPX) |
| Form Type | 8-K |
| Filed Date | May 24, 2024 |
| Risk Level | high |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0002 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: SCPX
TL;DR
SCPX is on the chopping block with Nasdaq, might get delisted.
AI Summary
Scorpius Holdings, Inc. (SCPX) filed an 8-K on May 24, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The company was formerly known as NightHawk Biosciences, Inc. and HEAT BIOLOGICS, INC. The filing indicates potential issues with meeting Nasdaq's continued listing standards.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could lead to the company's stock being removed from Nasdaq, impacting investor liquidity and valuation.
Risk Assessment
Risk Level: high — The filing explicitly states a notice of delisting or failure to satisfy a continued listing rule, indicating a significant risk to the company's exchange listing.
Key Players & Entities
- Scorpius Holdings, Inc. (company) — Registrant
- NightHawk Biosciences, Inc. (company) — Former Company Name
- HEAT BIOLOGICS, INC. (company) — Former Company Name
- May 20, 2024 (date) — Earliest event reported
- May 24, 2024 (date) — Filing date
FAQ
What specific listing rule has Scorpius Holdings, Inc. failed to satisfy?
The filing indicates a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' but does not specify the exact rule in the provided text.
What is the current stock exchange for Scorpius Holdings, Inc.?
The filing implies the company is listed on Nasdaq, as it refers to 'continued listing rule or standard'.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on May 20, 2024.
What were the previous names of Scorpius Holdings, Inc.?
The company was formerly known as NightHawk Biosciences, Inc. and HEAT BIOLOGICS, INC.
What is the business address of Scorpius Holdings, Inc.?
The business address is 627 Davis Drive, Suite 300, Morrisville, NC 27560.
Filing Stats: 1,110 words · 4 min read · ~4 pages · Grade level 15 · Accepted 2024-05-24 16:30:20
Key Financial Figures
- $0.0002 — nge on which registered Common Stock, $0.0002 par value per share SCPX NYSE America
Filing Documents
- scpx_8k.htm (8-K) — 31KB
- 0001079973-24-000812.txt ( ) — 243KB
- scpx-20240520.xsd (EX-101.SCH) — 3KB
- scpx-20240520_def.xml (EX-101.DEF) — 26KB
- scpx-20240520_lab.xml (EX-101.LAB) — 36KB
- scpx-20240520_pre.xml (EX-101.PRE) — 25KB
- scpx_8k_htm.xml (XML) — 5KB
01 Notice of Delisting or Failure to Satisfy a Continued
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard Transfer of Listing. On May 20, 2024, Scorpius Holdings, Inc. (the "Company") notified the NYSE American LLC (the "Exchange") that it was unable to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 by the extended filing date under Rule 12b-25 of the Securities Exchange Act of 1934. On May 21, 2024, the Company received a notice from the NYSE Regulation (the "NYSE Notice") stating that the Company is not in compliance with the continued listing standards of the Exchange because the Company failed to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 (the "Form 10-Q" or the "Delinquent Report"), which was due to be filed with the Securities and Exchange Commission (the "SEC") no later than May 20, 2024 (the "Filing Delinquency"). As previously reported in the Company's Notification of Late Filing on Form 12b-25 filed with the SEC on May 16, 2024 (the "May Form 12b-25"), the Company was unable to file its Annual Report on Form 10-K (the "2023 10-K") by the filing due date of April 16, 2024. The 2023 10-K was filed on April 26, 2024. The amount of time that was required to complete and file the 2023 10-K has materially impacted the completion of the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. Subsequent to filing the Form 12b-25, the Company continued to dedicate significant resources to the completion of procedures related to its quarter-end process but was unable to file the Form 10-Q by May 20, 2024, the end of the extension period provided by the Form 12b-25. The Company requires additional time to complete such procedures. Based on currently available information and subject to the completion of the Company's quarter-end procedures, the Company does not expect the financial results that will be included in the Form 10-Q to differ materially from the preliminary financial information
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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. Dated: May 24, 2024 SCORPIUS HOLDINGS, INC. By: /s/ Jeffrey Wolf Name: Jeffrey Wolf Title: Chairman, President and Chief Executive Officer