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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 10, 2018

 

 

Oncobiologics, Inc.
(Exact name of registrant as specified in its charter)

 

Delaware 001-37759 38-3982704
(State or other jurisdiction
of incorporation) 		(Commission File Number) (IRS Employer Identification No.)

 

7 Clarke Drive

Cranbury, New Jersey

 08512
(Address of principal executive offices) (Zip Code)

 

Registrant's telephone number, including area code: (609) 619-3990

 

________________________________________________________________________________
(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. x

 

 

 

 

 

Item 8.01Other Events.

 

By letter dated July 10, 2018, Oncobiologics, Inc. (the “Company”) was formally notified by the Hearings Department of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company has evidenced compliance with all applicable requirements for continued listing on The Nasdaq Capital Market, including the $35 million market value of listed securities requirement. Accordingly, the hearing matter has been closed.

 

The Company remains subject to a 180-day grace period, through October 23, 2018, to regain compliance with Nasdaq’s minimum $1.00 per share bid price requirement for continued listing. In order to evidence compliance with that requirement, the Company must evidence a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days on or before October 23, 2018. If the Company does not timely regain compliance, the Company’s securities would be subject to delisting; however, the Company would be entitled to request a hearing before a Nasdaq Hearings Panel, which request would stay any delisting action by Nasdaq pending the ultimate conclusion of the hearing process.

 

On July 11, 2018, the Company issued a press release with respect to the foregoing, which press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.

 

  Item 9.01. Financial Statements and Exhibits

 

(d)Exhibits.

 

Exhibit No. Description
99.1 Press Release dated July 11, 2018.
   

 

 

 

 

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.

 

 

Oncobiologics, Inc. 

   
   
Date: July 13, 2018 By: /s/ Lawrence A. Kenyon
    Lawrence A. Kenyon
    Chief Financial Officer and Interim Chief Executive Officer

 

 

Exhibit 99.1

 

Oncobiologics Regains Compliance with Applicable Nasdaq Listing Requirements

 

CRANBURY, N.J., July 11, 2018 – Oncobiologics, Inc. (Nasdaq:ONS) today announced that, on July 10, 2018, the Company received formal notice from The Nasdaq Stock Market LLC that the Company has evidenced compliance with the applicable requirements for the continued listing of the Company’s securities on The Nasdaq Capital Market, including the minimum $35 million market value of listed securities requirement. Accordingly, the Company’s previously disclosed matter before the Nasdaq Hearings Panel has been closed.

 

The Company remains subject to a 180-day grace period, through October 23, 2018, to regain compliance with Nasdaq’s minimum $1.00 per share bid price requirement for continued listing. In order to evidence compliance with that requirement, the Company must evidence a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days on or before October 23, 2018. If the Company does not timely regain compliance, the Company’s securities would be subject to delisting; however, the Company would be entitled to request a hearing before a Nasdaq Hearings Panel, which request would stay any delisting action by Nasdaq pending the ultimate conclusion of the hearing process.

 

About Oncobiologics, Inc. and its BioSymphony™ Platform
Oncobiologics is a clinical-stage biopharmaceutical company focused on identifying, developing, manufacturing and commercializing complex monoclonal antibody (mAb) therapeutics. Oncobiologics is advancing a pipeline of innovative and biosimilar product candidates, three of which are currently in, or about to enter, clinical development. By leveraging its proprietary BioSymphony™ Platform, Oncobiologics is able to produce high-quality innovative and biosimilar mAb candidates in an efficient and cost-effective manner. The BioSymphony engine is particularly suitable for developing technically challenging and commercially attractive mAbs to meet the need for clinically important yet affordable drugs. The BioSymphony Platform is used for both in-house programs as well as engaging spare capacity to provide external contract development and manufacturing services. Led by a team of biopharmaceutical experts, Oncobiologics operates from a state-of-the-art fully integrated research, development, and manufacturing facility in Cranbury, New Jersey. For more information, please visit www.oncobiologics.com.

 

 

CONTACTS:

Oncobiologics:             
Lawrence A. Kenyon
LawrenceKenyon@oncobiologics.com

 

Media & Investors:       
Jeremy Feffer
Managing Director
LifeSci Advisors, LLC
T: 212.915.2568 
jeremy@lifesciadvisors.com