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 18, 2018
INNOVATION PHARMACEUTICALS INC. |
(Exact Name of Registrant as Specified in Charter) |
Nevada |
| 001-37357 |
| 30-0565645 |
(State or Other Jurisdiction |
| (Commission |
| (IRS Employer |
of Incorporation) | File Number) |
| Identification No.) |
100 Cummings Center, Suite 151-B Beverly, Massachusetts |
| 01915 |
(Address of Principal Executive Offices) |
| (Zip Code) |
Registrant’s telephone number, including area code: (978) 921-4125
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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, Innovation Pharmaceuticals Inc. (the “Company”) approved steps in early 2018 to focus its efforts on clinical trials for its lead drug candidates. Among other changes, the salary of Dr. Krishna Menon, the Company’s President of Research, was reduced by 50%, reflecting a decrease in research unrelated to clinical trials. On September 18, 2018, the Company notified Dr. Menon of the termination of his continued employment with the Company in order for the Company to further focus its resources on clinical trials for its lead drug candidates. Dr. Menon will continue to serve on the Company’s Board of Directors.
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SIGNATURES
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.
INNOVATION PHARMACEUTICALS INC. | |||
| |||
Dated: September 19, 2018 | By: | /s/ Leo Ehrlich | |
| Name: | Leo Ehrlich | |
Title: | Chief Executive Officer and Chief Financial Officer |
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