Evelo Biosciences, Inc.: Nasdaq/NYSE listing notice — Evelo Biosciences receives Nasdaq deficiency notices for MVLS and MVPHS below thresholds

Evelo Biosciences, Inc.

MVLS below $50M for 30 consecutive business days; compliance period ends Oct 23, 2023.
MVPHS below $15M for 30 consecutive business days; compliance period ends Oct 25, 2023.
Stock continues trading under EVLO while company monitors compliance and evaluates options.
Company may appeal delisting or apply to transfer to Nasdaq Capital Market if non-compliant.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Evelo Biosciences, Inc. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A)

Exact text from the filing

April 25, 2023, Evelo Biosciences, Inc. (the “Company”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the Minimum Value of Listed Securities, as defined by Nasdaq (“MVLS”), of the Company’s common stock, par value $0.001 per share (the “Common Stock”), has been below the minimum $50 million requirement for continued listing on The Nasdaq Global Select Market under Nasdaq Listing Rule 5450(b)(2)(A) (the “Minimum Market Value of Listed Securities Requirement”). On April

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Evelo Biosciences, Inc. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(C)

Exact text from the filing

April 28, 2023, the Company received a letter from the Listing Qualifications Department of Nasdaq notifying the Company that, for the last 30 consecutive business days, the Company’s minimum Market Value of Publicly Held Shares, as defined by Nasdaq (“MVPHS”), of the Company’s Common Stock has been below the minimum $15 million requirement for continued listing on The Nasdaq Global Select Market under Nasdaq Listing Rule 5450(b)(2)(C) (the “Minimum Market Value of Publicly Held Shares Requirement”). These letters have no immediate effect on the listing of the Common Stock on the Nasdaq Global

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Source: SEC EDGAR

accession 0001694665-23-000034

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