NEWS! BIG NEWS
$Avalo Therapeutics(AVTX.US$
On November 14, 2023, the Company received written notice from Nasdaq (the “November Notification Letter”) that the Panel had granted the Company an exception from compliance with the MVLS Rule and the Bid Price Rule and extension of continued listing until December 29, 2023, subject to the following:
1.On or before November 9, 2023, the Company will demonstrate compliance with Listing Rule 5550(b)(1) by filing its Form 10-Q with the SEC evidencing a minimum of $2.5million in stockholders’ equity; and2.On or before December 29, 2023, the Company will demonstrate compliance with Listing Rule 5550(a)(2), by maintaining a closing bid price of $1 per share for ten consecutive trading sessions.
The November Notification Letter also stated that the Panel noted the Company timely filed its 10-Q on November 9, 2023, reporting stockholders’ equity of $14.7 million.
The November Notification Letter also stated that the Panel reserves the right to reconsider the terms of this exception granting continued listing based on any event, condition or circumstance that exists or develops that would, in the opinion of the Panel, make continued listing of the Company’s securities on Nasdaq inadvisable or unwarranted. The Panel advised the Company that it is a requirement during this exception period that the Company provide prompt notification of any significant events that occur during this time that may affect the Company’s compliance with Nasdaq requirements, including prompt advance notice of any event that may call into question the Company’s ability to meet the terms of the exception granted.
There can be no assurance that the Company will be able to regain compliance with the Bid Price Rule.![]()
On November 14, 2023, the Company received written notice from Nasdaq (the “November Notification Letter”) that the Panel had granted the Company an exception from compliance with the MVLS Rule and the Bid Price Rule and extension of continued listing until December 29, 2023, subject to the following:
1.On or before November 9, 2023, the Company will demonstrate compliance with Listing Rule 5550(b)(1) by filing its Form 10-Q with the SEC evidencing a minimum of $2.5million in stockholders’ equity; and2.On or before December 29, 2023, the Company will demonstrate compliance with Listing Rule 5550(a)(2), by maintaining a closing bid price of $1 per share for ten consecutive trading sessions.
The November Notification Letter also stated that the Panel noted the Company timely filed its 10-Q on November 9, 2023, reporting stockholders’ equity of $14.7 million.
The November Notification Letter also stated that the Panel reserves the right to reconsider the terms of this exception granting continued listing based on any event, condition or circumstance that exists or develops that would, in the opinion of the Panel, make continued listing of the Company’s securities on Nasdaq inadvisable or unwarranted. The Panel advised the Company that it is a requirement during this exception period that the Company provide prompt notification of any significant events that occur during this time that may affect the Company’s compliance with Nasdaq requirements, including prompt advance notice of any event that may call into question the Company’s ability to meet the terms of the exception granted.
There can be no assurance that the Company will be able to regain compliance with the Bid Price Rule.
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Massinooo : Going in?
TrytosaveabitOP Massinooo: I’ve been in and out of this 8 times in 5 months! If I see volume pick up? Yes I’m in! GL
70108039 : good news or bad
TrytosaveabitOP 70108039: For now it’s great news! It means nasdaq is giving them a bit more time to come up with a plane of compliance with MVLS rule!
70108039 TrytosaveabitOP: ok extension good
TrytosaveabitOP 70108039: Yup!
Clueless Noob : good news, indeed.
70108039 : yea so big that need RS