Avalo Therapeutics, Inc. (AVTX): Nasdaq/NYSE listing notice — Avalo Therapeutics faces Nasdaq delisting over low stock price; cash $6.7M

Avalo Therapeutics, Inc.

Nasdaq notified Avalo of delisting due to bid price ≤ $0.10 for 10 consecutive days (Low Priced Stock Rule).
Company to request hearing by Sept 19; considering reverse stock split to regain compliance.
Preliminary cash and equivalents of ~$6.7M as of Sept 12, 2023.
Raised ~$12.9M net from at-the-market offering (50.8M shares) through Sept 8; additional $1.8M from 16.1M shares after Sept 8.
Shares outstanding: 62,870,563 as of Sept 8, 2023.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.97

Avalo Therapeutics, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2), 5550(b)(2), 5810(c)(3)(A), 5810(c)(3)(C), 5810(c)(3)(A)(iii)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5550(b)(2), 5810(c)(3)(A), 5810(c)(3)(C), 5810(c)(3)(A)(iii)

Exact text from the filing

September 12, 2023, the Company received notice (the “September 12 Letter”) from Nasdaq that Nasdaq had determined that as of September 11, 2023, the Company’s securities had a closing bid price of $0.10 or less for ten consecutive trading days triggering application of Listing Rule 5810(c)(3)(A)(iii) which states in part: if during any compliance period specified in Rule 5810(c)(3)(A), a company’s security has a closing bid price of $0.10 or less for ten consecutive trading days, the Listing Qualifications Department shall issue a Staff Delisting Determination under Rule 5810 with respect to

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Avalo Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-032140

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