SAN MATEO, Calif. and SINGAPORE, April 19, 2024 (WORLD NEWSWIRE)– ASLAN Pharmaceuticals ASLN, a clinical-stage, immunology-focused biopharmaceutical business establishing ingenious treatments to change the lives of clients, today revealed that it got a letter (the “Letter”) on April 18, 2024 from The Nasdaq Stock Exchange (” Nasdaq”) notifying the Business that it stopped working to preserve the ongoing listing requirement under Nasdaq Listing Guideline 5550( b)( 1) for the Nasdaq Capital Market, which needs that a noted business’s investors’ equity be at least $2.5 million (the “Stockholders’ Equity Requirement”).
Based upon the reported investors’ equity of a deficit of $13.3 million in the Business’s Kind 20-F for the duration ended December 31, 2023, the Business did not fulfill the Stockholders’ Equity Requirement.
The Business has a duration of 45 calendar days from the date of the Letter, or till June 3, 2024, to send a strategy to restore compliance with the Stockholders’ Equity Requirement. If such a strategy is sent and accepted, Nasdaq might give an extension of approximately 180 calendar days from the date of the Letter for the Business to restore compliance.
The Letter has no instant result on the listing or trading of the Business’s American Depositary Shares representing normal shares (” ADSs”), which will continue to be noted on Nasdaq throughout this duration, based on the Business’s compliance with other listing requirements, under the sign ‘ASLN’.
About ASLAN Pharmaceuticals
ASLAN Pharmaceuticals ASLN is a clinical-stage, immunology-focused biopharmaceutical business establishing ingenious treatments to change the lives of clients. ASLAN is establishing eblasakimab, a prospective first-in-class antibody targeting the IL-13 receptor in moderate-to-severe atopic dermatitis (ADVERTISEMENT) with the possible to surpass present biologics utilized to deal with allergic illness, and, has actually reported favorable topline information from a Stage 2b dose-ranging research study in moderate-to-severe advertisement clients. ASLAN is likewise establishing farudodstat, a powerful oral inhibitor of the enzyme dihydroorotate dehydrogenase (DHODH) as a prospective first-in-class treatment for alopecia location (AA) in a Stage 2a, proof-of-concept trial with an interim readout anticipated in Q3 2024. ASLAN has groups in San Mateo, California, and in Singapore. For extra info please go to the ASLAN site or follow ASLAN on LinkedIn.
Forward looking declarations
This release consists of positive declarations. These declarations are based upon the present beliefs and expectations of the management of ASLAN Pharmaceuticals Limited and/or its affiliates (the “Business”). These positive declarations might consist of, however are not restricted to declarations concerning the Business’s capability to restore compliance with the Stockholders’ Equity Requirement and continue to be noted on Nasdaq. The Business’s price quotes, forecasts and other positive declarations are based upon management’s present presumptions and expectations of future occasions and patterns, which impact or might impact the Business’s company, method, operations, or monetary efficiency, and naturally include substantial recognized and unidentified threats and unpredictabilities. Real outcomes and the timing of occasions might vary materially from those expected in such positive declarations as an outcome of lots of threats and unpredictabilities, that include, unanticipated security or effectiveness information observed throughout preclinical or medical research studies; threats that future medical trial outcomes might not follow interim, preliminary or initial outcomes or arise from previous preclinical research studies or medical trials; threats that patterns or qualities based upon initial blinded information might not follow unblinded information; medical website activation rates or medical trial registration rates that are lower than anticipated; the effect of health upsurges or pandemics, or geopolitical disputes on the Business’s operations, research study and advancement and medical trials and possible interruption in the operations and company of third-party producers, agreement research study companies, other provider and partners with whom the Business carries out company; basic market conditions; modifications in the competitive landscape; and the Business’s capability to get enough funding to money its tactical and medical advancement strategies. Other elements that might trigger real outcomes to vary from those revealed or indicated in such positive declarations are explained in the Business’s United States Securities and Exchange Commission filings and reports (Commission File No. 001- 38475), consisting of the Business’s Yearly Report on Kind 20-F submitted with the United States Securities and Exchange Commission on April 12, 2024. All declarations besides declarations of historic reality are positive declarations. The words “think,” “may,” “might,” “could,” “will,” “goal,” “quote,” “continue,” “prepare for,” “mean,” “anticipate,” “strategy,” or the unfavorable of those terms, and comparable expressions that communicate unpredictability of future occasions or results are planned to determine price quotes, forecasts, and other positive declarations. Price quotes, forecasts, and other positive declarations speak just since the date they were made, and, other than to the level needed by law, the Business carries out no commitment to upgrade or evaluate any quote, forecast, or positive declaration.
ASLAN Media and IR contacts