Avalo Therapeutics, Inc. (AVTX): Nasdaq/NYSE listing notice — Nasdaq grants Avalo Therapeutics extension to Dec 29 to regain $1 bid price

Avalo Therapeutics, Inc.

Received Nasdaq notice on Nov 14, 2023 of Panel granting exception from MVLS and bid price rules until Dec 29, 2023.
Condition 1 already met: Company filed Form 10-Q on Nov 9 showing stockholders' equity of $14.7M, satisfying Nasdaq equity requirement.
Condition 2: Must maintain closing bid price of $1.00 for ten consecutive sessions by Dec 29 to avoid delisting.
Previously, on Sep 13, Nasdaq notified Company of low-priced stock rule due to bid price <=$0.10 for ten consecutive days.
No assurance of regaining compliance; risk of delisting remains.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Avalo Therapeutics, Inc. received a nasdaq hearing update notice regarding minimum bid price (rules 5810(c)(3)(A)(iii), 5550(a)(2), 5550(b)(1)).

Exchange: nasdaq
Notice: hearing update
Deficiency: minimum bid price
Rules: 5810(c)(3)(A)(iii), 5550(a)(2), 5550(b)(1)

Exact text from the filing

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; and 2. On or before December 29, 2023, the Company will demonstrate compliance with Listing Rule 55

View on SEC.gov

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Avalo Therapeutics, Inc. received a nasdaq hearing update notice regarding market value (rules 5550(b)(2), 5810(c)(3)(A), 5810(c)(3)(C)).

Exchange: nasdaq
Notice: hearing update
Deficiency: market value
Rules: 5550(b)(2), 5810(c)(3)(A), 5810(c)(3)(C)

Exact text from the filing

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; and 2. On or before December 29, 2023, the Company will demonstrate compliance with Listing Rule 55

View on SEC.gov

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Avalo Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-039211

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