Aslan Pharmaceuticals regains compliance with Nasdaq listing rules

ASLAN Pharmaceuticals received written notice from The Nasdaq Stock Market stating that the Company regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) and currently meets all other applicable criteria for continued 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 Depositary Shares closed below $1.00 for 30 consecutive business days. 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 regained compliance with Nasdaq’s minimum bid price requirement and the Company’s ADSs will continue to be traded on The Nasdaq Capital Market, subject to the Company’s continued compliance with all applicable continued listing standards.