VYNE extends Oral BETi option to April 30, 2023; regains Nasdaq minimum bid price compliance

VYNE Therapeutics Inc.

Extended option term for Oral BETi Compounds to April 30, 2023; paid Tay $250k non-refundable fee.
Fee will be deducted from $4.0M upfront if option exercised.
Received Nasdaq notice on Feb 28, 2023 that bid price ≥$1.00 for 10 consecutive business days through Feb 27, 2023.
Regained compliance with Nasdaq Rule 5550(a)(2).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VYNE Therapeutics Inc. amended Letter Agreement with Tay Therapeutics Limited valued at $250,000 (effective 2023-02-27).

Action: amendment
Agreement: license
Counterparty: Tay Therapeutics Limited
Value: $250,000
Effective: 2023-02-27

Exact text from the filing

the parties entered into a Letter Agreement on February 27, 2023 (the “Letter Agreement”) to extend the Option Term to April 30, 2023. Pursuant to the terms of the Letter Agreement, VYNE has agreed to pay Tay a non-refundable fee in the amount of $250,000 to extend the Option Term.

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VYNE Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-026761

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