The rise in ASLAN Pharmaceuticals' stock price despite receiving a deficiency notice from Nasdaq could be due to investors' optimism about the company's future prospects or other positive factors that may be influencing the stock. However, if the company fails to regain compliance, it could face delisting, which would be a negative outcome. The short-term impact appears positive as the stock is trading higher, but there is a risk of negative consequences if the issue is not resolved.