What's Going On With Microcap Avalo Therapeutics Stock Today?
Portfolio Pulse from Vandana Singh
Avalo Therapeutics Inc (NASDAQ:AVTX) shares are gaining on heavy volume after the company received a notice from Nasdaq about a potential delisting due to low bid price. The company has until Sept. 19, 2023, to appeal. Avalo also agreed to sell its rights and interest in assets relating to AVTX-801, AVTX-802, and AVTX-803 to AUG Therapeutics Inc. for a potential aggregate of $45 million.
September 13, 2023 | 4:19 pm
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POSITIVE IMPACT
Avalo Therapeutics' stock is gaining despite a potential delisting notice from Nasdaq. The company's sale of rights to AUG Therapeutics could potentially bring in $45 million.
The stock is gaining due to the potential income from the sale of rights to AUG Therapeutics. However, the potential delisting from Nasdaq could negatively impact the stock in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100