Current Report Filing (8-k)
19 March 2022 - 07:06AM
Edgar (US Regulatory)
0001534120false00015341202022-03-172022-03-17
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 17,
2022
AVALO THERAPEUTICS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
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001-37590 |
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45-0705648 |
(Commission File Number) |
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(IRS Employer Identification No.) |
540 Gaither Road, Suite 400, Rockville, Maryland 20850
(Address of principal executive offices) (Zip Code)
Registrant’s Telephone Number, Including Area Code: (410)
522-8707
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐
Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
☐ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
☐ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the
Act:
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Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock, $0.001 Par Value |
AVTX |
Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act. ☐
Item 3.01 Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of
Listing.
On March 17, 2022, Nasdaq Stock Market LLC (“Nasdaq”) notified
Avalo Therapeutics, Inc. (the “Company”) that for the last 30
consecutive business days, the bid price for the Company’s common
stock had closed below the minimum $1.00 per share requirement for
continued inclusion on the Nasdaq Capital Market pursuant to Nasdaq
Listing Rule 5550(a)(2) (the “Bid Price Rule”).
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company
has a compliance period of 180 calendar days, or until September
13, 2022, to regain compliance with the Bid Price Rule. If at any
time before September 13, 2022, the bid price of the Company's
common stock closes at $1.00 per share or more for a minimum of ten
consecutive business days, Nasdaq will provide the Company with a
written confirmation of compliance with the Bid Price
Rule.
If the Company does not regain compliance with the Bid Price Rule
by September 13, 2022, the Company may be eligible for an
additional 180-day compliance period. To qualify, the Company would
be required to meet the continued listing requirement for market
value of publicly held shares and all other initial listing
standards for the Nasdaq Capital Market, with the exception of the
Bid Price Rule, and would need to provide written notice of its
intention to cure the bid price deficiency during the second
compliance period, by effecting a reverse stock split, if
necessary.
If the Company does not regain compliance with the Bid Price Rule
when required, Nasdaq will provide written notification to the
Company that its common stock is subject to delisting. At that
time, the Company may appeal the delisting determination to a
Nasdaq hearings panel.
The notice from Nasdaq has no immediate effect on the listing of
the Company’s common stock and its common stock will continue to be
listed on the Nasdaq Capital Market under the symbol “AVTX”. The
Company is currently evaluating its options for regaining
compliance. There can be no assurance that the Company will regain
compliance with the Bid Price Rule or maintain compliance with any
of the other Nasdaq continued listing requirements.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly
authorized.
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AVALO THERAPEUTICS, INC.
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Date: March 18, 2022 |
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By: |
/s/ Christopher Sullivan |
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Christopher Sullivan |
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Chief Financial Officer |
Avalo Therapeutics (NASDAQ:AVTX)
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