Summary
BeOne Medicines Ltd. (ONC) filed an 8-K on June 5, 2017, primarily addressing its compliance with NASDAQ listing rules and providing an update on a clinical trial. The company notified NASDAQ that it is currently non-compliant with the minimum three-member requirement for its Audit Committee due to a director's departure. However, it has a cure period until its next annual general meeting or June 1, 2018, to rectify this by appointing an additional independent director. Additionally, the company announced the presentation of initial data from a Phase 1/1b clinical trial for its anti-PD-1 antibody BGB-A317 in combination with its PARP inhibitor BGB-290 for advanced solid tumors. This data was presented at the 2017 American Society of Clinical Oncology Annual Meeting, and a press release detailing these findings is included as an exhibit to this filing.
Key Highlights
- 1BeOne Medicines notified NASDAQ of a temporary non-compliance with Audit Committee composition rules, but has a cure period until June 1, 2018, to add a director.
- 2The company intends to appoint an additional independent director to its Audit Committee to regain compliance.
- 3An annual general meeting was held on June 1, 2017, where directors Timothy Chen and John V. Oyler were re-elected.
- 4The appointment of Ernst & Young Hua Ming LLP as the independent registered public accounting firm for 2017 was ratified by shareholders.
- 5Initial data from a Phase 1/1b clinical trial combining anti-PD-1 antibody BGB-A317 and PARP inhibitor BGB-290 in advanced solid tumors was presented at ASCO 2017.
- 6A press release detailing the clinical trial data is filed as an exhibit to the 8-K.