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3:30 PM PT -- Nick Reiner has formally been charged. The L.A. County District Attorney's Office announced Reiner is charged with "two counts of murder with the special circumstance allegation of multiple murders. He also faces a special allegation that he personally used a dangerous and deadly weapon, a knife." Reiner's arraignment has not been scheduled.

1:15 PM PT -- Los Angeles County District Attorney Nathan J. Hochman came out swinging in his latest comments on the Rob and Michele Reiner double-murder case ... he says the death penalty is on the table if their son, Nick Reiner, is convicted of murdering his parents.

Hochman says Nicks is going to be charged with two counts of first-degree murder, and he says the charges come with stiff penalties, if convicted ... a maximum sentence of life in prison without the possibility of parole, or even the death penalty.

The D.A. was quick to say there's been no final decision on going after the death penalty here, but the fact he even mentioned it right off the bat is pretty interesting.

Los Angeles County District Attorney Nathan J. Hochman and LAPD Chief Jim McDonnell are set to hold a press conference at 1 PM PT to update the public on the Rob and Michele Reiner double-murder case.

As we reported ... Rob and Michele's 32-year-old son Nick was arrested on suspicion of killing his parents after they were found stabbed to death in their Brentwood, California home Sunday afternoon.

Nick's first court appearance in connection with the murders was scheduled for today, but was taken off the books after he was not medically cleared to appear in court. His attorney told TMZ this morning he has not received any filing yet from prosecutors.

Nick Reiner -- who was arrested on suspicion of killing his parents Rob and Michele Reiner -- will NOT appear in court today for the first time since their grisly murders ... he doesn't have medical clearance.

Prosecutors were expected to decide whether and how to officially charge Nick with killing his parents ... but that will have to wait, because Nick's defense attorney, Alan Jackson, says his client is not medically cleared to appear in court.

As we first reported ... Nick is on suicide watch at Men's Central Jail in L.A., where he's being held without bail. Jackson said this morning he has not received any filing yet from prosecutors ... and he doesn't believe the court has received any filing either.

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