Summary by Moomoo AI
Avalo Therapeutics, Inc. has been granted a 180-day extension by the Nasdaq Stock Market LLC to meet the minimum stockholders' equity requirement for continued listing on the Nasdaq Capital Market. The extension, which lasts until November 18, 2024, follows the company's non-compliance notice received on May 20, 2024, due to its reported negative stockholders' equity of $112.5 million as of March 31, 2024. Avalo Therapeutics had submitted a plan of compliance to Nasdaq's Listing Qualifications Department in response to the notice. While the extension provides additional time for Avalo Therapeutics to regain compliance, there is no guarantee that the company will meet the Nasdaq's Listing Rule by the new deadline.