Avalo Therapeutics Inc.

04/09/2024 | Press release | Distributed by Public on 04/09/2024 18:02

Material Event Form 8 K

Item 8.01 Other Events.
On September 3, 2024, Avalo Therapeutics, Inc. (the "Company") received written notification from the Nasdaq Stock Market LLC ("Nasdaq") confirming that its market value of the Company's listed securities had exceeded the $35 million requirement for ten consecutive trading days, and that as a result the Company had regained compliance with Nasdaq Listing Rule 5550(b)(2) (the "Market Value of Listed Securities Standard") and the matter was now closed.
As previously disclosed, on May 20, 2024, the Company received a notice (the "Notice") from the Listing Qualifications Department (the "Staff") of Nasdaq informing the Company that it no longer complied with the Nasdaq listing Rule 5550(b)(1) (the "Stockholders' Equity Requirement") because it failed to maintain a minimum of $2,500,000 in stockholders' equity in its Form 10-Q for the period ended March 31, 2024, and, as of the date of the Notice, the Company did not meet the alternatives of the Market Value of Listed Securities Standard or net income from continuing operations.
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