EAGLE PHARMS INC - EGRX STOCK NEWS

Eagle Pharmaceuticals (OTCMKTS: EGRX) has appointed Christopher Krawtschuk as Chief Financial Officer, effective November 11, 2024. Krawtschuk replaces Steven Ratoff, who steps down as interim CFO but remains on the company's board. Krawtschuk brings extensive pharmaceutical sector experience, having previously served as CFO at bluebird bio and Jubilant Pharma. His background includes roles at Morphosys, where he helped build U.S. commercial operations, and Pfizer, where he provided financial leadership. He began his career at PricewaterhouseCoopers, holds a B.S. in Accounting, and is a licensed CPA.

Eagle Pharmaceuticals has implemented a duration stockholder rights plan in response to significant stock price dislocation and unsolicited third-party accumulation attempts. The plan grants stockholders one preferred share purchase right for each common stock share as of November 11, 2024. These rights become exercisable if any entity acquires or attempts to acquire 10% or more of outstanding common stock (15% for passive institutional investors). When exercisable, each right allows holders to purchase additional shares at $10.00, with a market value of twice the exercise price. The plan expires on October 30, 2025, unless redeemed earlier.

Eagle Pharmaceuticals (Nasdaq: EGRX) received a delisting notification from Nasdaq on August 21, 2024, due to its failure to timely file the Q2 2024 Form 10-Q. This follows a previous notice on August 1, 2024, where Nasdaq granted the company continued listing subject to specific conditions. Eagle must file its 2023 Annual Report by September 30, 2024, and both Q1 and Q2 2024 Form 10-Qs by October 31, 2024. The company plans to file a comprehensive Form 10-K, including restated financial information, and separate Form 10-Q filings to meet these deadlines. However, there's no guarantee that Eagle will meet the compliance dates or maintain its Nasdaq listing.

Eagle Pharmaceuticals received a delisting notification from Nasdaq on May 20, 2024, due to its failure to file key financial forms, including the Q3 2023 Form 10-Q, the 2023 Form 10-K, and the Q1 2024 Form 10-Q. The delisting process will commence if Eagle does not request a hearing by May 28, 2024, which will result in the suspension of their stock trading on May 30, 2024. Eagle plans to request a hearing to potentially extend their compliance period. However, there is no guarantee that such an extension will be granted or that they will regain compliance.

Eagle Pharmaceuticals, Inc. (Nasdaq: EGRX) announced a Trial in Progress presentation for their ongoing Phase 2/3 study of intravenous amisulpride as a prevention of postoperative nausea and vomiting in pediatric patients at the SAMBA 2024 Annual Meeting. Preliminary results are expected in the first half of 2025. The study aims to evaluate the potential benefits of amisulpride therapy in pediatric patients.

Eagle Pharmaceuticals will present data from a Phase III trial at the ASPAN 2024 National Conference, showing sustained response of amisulpride for postoperative nausea and vomiting rescue treatment. The trial demonstrated that a single dose of IV amisulpride maintained supratherapeutic plasma levels for at least 24 hours, resulting in a sustained antiemetic effect compared to placebo.

Eagle Pharmaceuticals, Inc. received a deficiency notice from Nasdaq for failing to file its Annual Report on Form 10-K, risking delisting. The company previously failed to file its Quarterly Report on Form 10-Q, leading to an extension until May 13, 2024, to regain compliance.

Eagle Pharmaceuticals, Inc. provided an update on its bendamustine intellectual property portfolio, including the affirmation by the United States Court of Appeals for the Federal Circuit of the decision that 505(b)(2) drug applications referencing BELRAPZO® did not infringe Eagle’s previously issued ‘483 patent. The company also announced the granting of U.S. Patent Nos. 11844783 and 11872214 covering Eagle’s innovative bendamustine liquid formulations, listed in the Orange Book for both BENDEKA® and BELRAPZO. Eagle filed lawsuits asserting that 505(b)(2) products referencing BELRAPZO marketed by other companies infringe the newly issued patents and requesting damages. The company's Interim Principal Executive Officer and Interim Executive Chairman, Michael Graves, stated that they will continue to take appropriate steps to enforce their rights related to the newly issued patents.

Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) is under investigation by Lifshitz Law PLLC for possible securities laws violations and/or breaches of fiduciary duties. Allegations include slower-than-anticipated pull-through from a wholesale customer, overstated revenue, ineffective internal controls, and misleading positive statements.