ASLAN Pharmaceuticals Announces Receipt of Nasdaq Delisting Determination For Non-Compliance Of Bid Price And Stockholders' Qquity Requirements

Author: Benzinga Newsdesk | July 15, 2024 07:33am

ASLAN Pharmaceuticals (("ASLAN" or the "Company", NASDAQ:ASLN), a clinical-stage, immunology-focused biopharmaceutical company developing innovative treatments to transform the lives of patients, today announced that on July 9, 2024, the Company was notified by the staff of the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") that, based upon the Company's non-compliance with the $1.00 bid price and $2.5 million stockholders' equity requirements for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rules 5550(a)(2) and 5550(b)(1), respectively, the Staff had determined to delist the Company's securities from Nasdaq. Upon consideration by the Company's board of directors, the Company has determined not to request a hearing before the Nasdaq Hearings Panel.

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