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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): September 16, 2009
Marshall Edwards, Inc.
(Exact name of registrant as specified in its charter)
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Delaware
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000-50484
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51-0407811 |
(State or other jurisdiction of
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(Commission File Number)
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(I.R.S. Employer Identification No.) |
incorporation or |
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organization) |
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140 Wicks Road, North Ryde, NSW, 2113 Australia
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code: (011) 61 2 8877-6196
Not Applicable
(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 (see General
Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c)) |
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Item 3.01 |
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Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On September 16, 2009, Marshall Edwards, Inc. (the Company) received notice from The Nasdaq
Stock Market (Nasdaq) stating that for the last 30 consecutive business days, the bid price for
the Companys common stock had closed below the minimum $1.00 per share required for continued
inclusion on the Nasdaq Global Market under Nasdaq Rule 5450(a)(1). The notification letter states
that the Company will be afforded a grace period of 180 calendar days, or until March 15, 2010, to
regain compliance with the minimum bid price requirement in accordance with Nasdaq Rule
5810(c)(3)(A). In order to regain compliance, shares of the Companys common stock must maintain a
minimum bid closing price of at least $1.00 per share for a minimum of ten consecutive business
days during the grace period.
The Company intends to actively monitor the bid price of its common stock between now and
March 15, 2010.
On September 22, 2009, the Company issued a press release announcing its receipt of the notice
from Nasdaq. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated
herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No. |
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Description |
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99.1
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Press Release issued by Marshall Edwards, Inc. dated September 22, 2009 |
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.
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MARSHALL EDWARDS, INC.
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By: |
/s/ David R. Seaton
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David R. Seaton |
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Chief Financial Officer
(Duly Authorized Officer and Principal
Financial Officer) |
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Dated: September 22, 2009
Index to Exhibits
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Exhibit No. |
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Description |
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99.1
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Press Release issued by Marshall Edwards Pty Limited dated September 22, 2009 |
exv99w1
Exhibit 99.1
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Marshall Edwards, Inc.
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CONTACTS:
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Warren Lancaster |
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+1-203-966-2556 (USA) |
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warren.lancaster@marshalledwardsinc.com |
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David Sheon |
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+1 202 547-2880 (USA) |
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dsheon@WHITECOATstrategies.com |
FOR IMMEDIATE RELEASE
MARSHALL EDWARDS, INC. RECEIVES NASDAQ NOTICE OF MINIMUM BID PRICE NON-COMPLIANCE
NEW CANAAN CT September 22, 2009 Marshall Edwards, Inc., (NASDAQ: MSHL), a specialist
oncology company focusing on the clinical development of novel anti-cancer therapeutics, today
announced that on September 16, 2009, as management expected, the Company received a letter from
The Nasdaq Stock Market notifying the Company that for the last 30 consecutive business days the
bid price of the Companys common stock closed below the minimum $1.00 per share requirement for
continued inclusion on the Nasdaq Global Market under Nasdaq Rule 5450(a)(1). According to
Nasdaqs letter, the Company will be afforded a grace period of 180 calendar days, or until March
15, 2010, to regain compliance in accordance with Nasdaq Rule 5810(c)(3)(A). In order to regain
compliance, shares of the Companys common stock must maintain a minimum bid closing price of at
least $1.00 per share for a minimum of ten consecutive business days during the grace period.
The Company intends to actively monitor the bid price of its common stock between now and March 15,
2010.
About Marshall Edwards, Inc.
Marshall Edwards, Inc. is a specialist oncology company focused on the clinical development of
novel anti-cancer therapeutics. These derive from a flavonoid technology platform, which has
generated a number of novel compounds characterized by broad ranging activity against a range of
cancer cell types with few side effects. The combination of anti-tumor cell activity and low
toxicity is believed to be a result of the ability of these compounds to target an enzyme present
in the cell membrane of cancer cells, thereby inhibiting the production of pro-survival proteins
within the cell. Marshall Edwards has licensed rights from Novogen Limited (ASX: NRT NASDAQ: NVGN)
to bring four oncology drugs phenoxodiol, triphendiol
NV-143 and NV-128 to market globally.
Marshall Edwards is majority owned by Novogen (ASX: NRT, NASDAQ: NVGN), an Australian biotechnology
company that is specializing in the development of therapeutics based on a flavonoid technology
platform. Novogen is developing a range of therapeutics across the fields of oncology,
cardiovascular disease and inflammatory diseases. More information on phenoxodiol and on the
Novogen group of companies can be found at www.marshalledwardsinc.com and www.novogen.com.
Under U.S. law, a new drug cannot be marketed until it has been investigated in clinical trials and
approved by the FDA as being safe and effective for the intended use. Statements included in this
press release that are not historical in nature are forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You should
be aware that our actual results could differ materially from those contained in the
forward-looking statements, which are based on managements current expectations and are subject to
a number of risks and uncertainties, including, but not limited to, our failure to successfully
commercialize our product candidates; costs and delays in the development and/or FDA approval, or
the failure to obtain such approval, of our product candidates; uncertainties in clinical trial
results; our inability to maintain or enter into, and the risks resulting from our dependence upon,
collaboration or contractual arrangements necessary for the development, manufacture,
commercialization, marketing, sales and distribution of any products; competitive factors; our
inability to protect our patents or proprietary rights and obtain necessary rights to third party
patents and intellectual property to operate our business; our inability to operate our business
without infringing the patents and proprietary rights of others; general economic conditions; the
failure of any products to gain market acceptance; our inability to obtain any additional required
financing; technological changes; government regulation; changes in industry practice; and one-time
events. We do not intend to update any of these factors or to publicly announce the results of any
revisions to these forward-looking statements.