SAN MATEO, Calif. and SINGAPORE, March 28, 2023 (GLOBE NEWSWIRE) — ASLAN Pharmaceuticals aslnLtd., a clinical-stage, immunology-focused biopharmaceutical company developing innovative treatments to transform patients’ lives, today announced that it has received written notice from Nasdaq Stock Market LLC (“Nasdaq”), stating That the company complies with the minimum bid price. Meets the Nasdaq listing requirement under Rule 5550(a)(2) and all other applicable criteria for a currently ongoing listing.
The Company was previously notified by Nasdaq on March 28, 2022, that it was not in compliance with the minimum bid price requirement because the bid price of the Company’s American Depository Shares (“ADS”) closed below $1.00 for 30 consecutive business days Had happened. In order to regain compliance with the minimum bid price requirement, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least ten consecutive business days, which was achieved on March 27, 2023. Accordingly, the company has retrieved Compliance with Nasdaq’s minimum bid price requirement and the Company’s ADSs will continue to trade on the Nasdaq Capital Market, subject to the Company’s continued compliance with all applicable ongoing listing standards.
About ASLAN Pharmaceuticals
ASLAN Pharmaceuticals asln is a clinical-stage, immunology-focused biopharmaceutical company developing innovative treatments to transform patients’ lives. ASLAN is evolving eblasakimabA potential first-in-class antibody targeting the IL-13 receptor in moderate-to-severe atopic dermatitis (AD), with potential to improve upon current biologics used to treat the allergic disease. ablaximab It is being investigated in a global Phase 2b trial of moderate-to-severe AD patients with topline readouts expected in early July 2023. ASLAN is also developing farudodstat, a potent oral inhibitor of the enzyme DHODH, as a first-in-class treatment for alopecia areata and plans to begin a proof-of-concept trial in 2Q 2023. ASLAN has teams in San Mateo, California and Singapore. For additional information please visit Website or follow ASLAN LinkedIn,
forward-looking statements
This release contains forward looking statements. These statements are based on the current beliefs and expectations of the company’s management. These forward-looking statements may include, but are not limited to, statements regarding the Company’s business strategy and clinical development plans; the company’s ability to meet the applicable criteria for continued listing on Nasdaq, the company’s plans for development and commercialization eblasakimab And farudodstat, Company’s plans and expected timing with respect to clinical trials, clinical trial enrollment and clinical trial results eblasakimab And farudodstat, and ability to eblasakimab as a first-line treatment for atopic dermatitis and farudodstat As a treatment for autoimmune disease. The Company’s projections, estimates and other forward-looking statements are based on management’s current beliefs and expectations of future events and trends that affect or may affect the Company’s business, strategy, operations or financial performance, and are inherently material in that Contains known and unknown risks. and uncertainties. Actual results and timing of events may differ materially from those anticipated in such forward-looking statements as a result of a number of risks and uncertainties, including unexpected safety or efficacy data observed during pre-clinical or clinical studies Are included; clinical site activation rates or clinical trial enrollment rates that are lower than expected; the impact of the COVID-19 pandemic or the ongoing conflict between Ukraine and Russia on the Company’s business and the global economy; general market conditions; changes in the competitive landscape; and the ability to obtain sufficient financing to fund the company’s strategic and clinical development plans. Other factors that could cause actual results expressed or implied in such forward-looking statements are described in the company’s US Securities and Exchange Commission filings and reports (Commission File No. 001- 38475), including the company’s annual report . Form 20-F filed with the US Securities and Exchange Commission on March 24, 2023. All statements other than statements of historical fact are forward-looking statements. The words “believe,” “may,” “may,” “may,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” The words “expect,” “plan,” or the negative of those terms, and similar expressions that express uncertainty of future events or results, are intended to identify estimates, projections, and other forward-looking statements. Estimates, projections, and other forward-looking statements speak only as of the date on which they were made, and, except to the extent required by law, the company undertakes no obligation to update or revise any estimate, projection, or forward-looking statement. does not take
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