Avalo Therapeutics Inc AVTX shares are gaining Wednesday morning on heavy quantity, with a session quantity of 183.69 million shares traded as in comparison with the trailing 100-day quantity of 10.65 million shares, as per knowledge from Benzinga Professional.
In an SEC submitting, the corporate is claimed to have obtained discover from Nasdaq, which decided as of Sept. 11, 2023, the corporate’s securities had a closing bid worth of $0.10 or much less for 10 consecutive buying and selling days, triggering the applying of the Itemizing Rule.
The division will concern a delisting dedication. Because of this, it is going to be decided if the corporate’s securities on Nasdaq will likely be delisted. Avalo Therapeutics can request an attraction and has till Sept. 19, 2023, to take action.
On Tuesday, Avalo Therapeutics agreed to promote its rights, title and curiosity in property referring to AVTX-801 (D-galactose), AVTX-802 (D-mannose), and AVTX-803 (L-fucose) to AUG Therapeutics Inc.
AUG can pay $150,000 upfront for every compound and make a contingent milestone fee of $15 million (for a possible combination of $45 million) if the primary FDA approval is for a sign apart from a Uncommon Pediatric Illness, or as much as 20% of sure funds, if any, granted to AUG Therapeutics upon any sale of any precedence assessment voucher granted to AUG by the FDA.
Worth Motion: AVTX shares are up 66.56% at $0.21 on the final test Wednesday.