Proposal 3. To Effect a Reverse Stock Split of the Outstanding Shares - - The Company’s stockholders authorized the Board of Directors, in its sole discretion, prior to the one-year anniversary of the Annual Meeting, to file an amendment to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split at one of the following reverse stock split ratios, 1-for-2, 1-for-3, 1-for-4, 1-for-5, 1-for-6, 1-for-7, or 1-for-8. As of the date hereof, the Company's Board of Directors has not made any determination on the filing of such amendment. The voting on this proposal is set forth below:...
11. Moleculin received a deficiency letter from NASDAQ on March 20, 2020 because its bid price for the company’s common stock closed under $1.00 over the preceding thirty consecutive business days in violation of NASDAQ Listing Rule 5550(a)(2). The company reported in a Form 8-K filed with the Commission on April 23, 2020 that it had regained compliance with the rule because the bid price closed above $1.00 for ten consecutive business days during the period from April 8 through April 22, 2020. Moleculin’s ability to regain compliance with NASDAQ listing requirements coincides with its statements regarding a potential treatment for COVID-19