UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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| Item 3.01 | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On November 22, 2022, Idera Pharmaceuticals, Inc. (the “Company”) was notified by the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that, based upon the Company’s continued non-compliance with Nasdaq Listing Rule 5550(a)(2), which requires maintenance of a minimum closing bid price of $1.00 per share (the “Bid Price Requirement”), the Company’s securities were subject to delisting unless the Company timely requested a hearing before the Nasdaq Hearings Panel (the “Panel”).
The Company plans to timely request a hearing before the Panel, which request will stay any further delisting action by the Staff at least pending the conclusion of the Company’s hearing before the Panel and the expiration of any extension period that may be granted by the Panel to the Company following the hearing. In accordance with the Nasdaq Listing Rules, the Panel has the discretion to grant the Company a further extension not to exceed 180 calendar days from the date of the Staff’s delisting notice, or through May 22, 2023.
As previously disclosed on Current Reports on Form 8-K filed with the Securities and Exchange Commission on December 1, 2021, and May 27, 2022, Nasdaq previously provided the Company with grace periods to regain compliance with the Bid Price Requirement, which ultimately expired on November 21, 2022.
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.
| IDERA PHARMACEUTICALS, INC. |
| By: | /s/ Bryant D. Lim | |
| Bryant D. Lim | ||
| Chief Business Officer and General Counsel |
Dated: November 23, 2022