Avalon GloboCare Regains Compliance with Nasdaq Continued Listing Requirements

Rhea-AI Summary

Avalon GloboCare (NASDAQ: ALBT), a precision diagnostics and laboratory services developer, has received notice from Nasdaq on November 19, 2024, confirming its regained compliance with the exchange's minimum bid price requirement under Rule 5550(a)(2). The company's CEO, David Jin, emphasized their commitment to shareholders and corporate governance, stating their continued focus on creating sustainable long-term value for both shareholders and stakeholders.

Positive

• Regained compliance with Nasdaq listing requirements, avoiding potential delisting risk

Negative

• None.

Insights

Financial Analyst

Regaining Nasdaq compliance is a positive development that removes an immediate delisting threat, but provides minimal substantive impact on the company's fundamental business operations or financial position. While maintaining the listing preserves access to capital markets and institutional investors, this is merely meeting basic requirements rather than indicating operational improvement. The $2.9M market cap suggests significant challenges ahead and investors should focus more on the company's business execution and financial performance for meaningful valuation catalysts.

FREEHOLD, N.J., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Avalon GloboCare Corp. (“Avalon” or the “Company”) (NASDAQ: ALBT), a developer of innovative precision diagnostics and laboratory services, today announced that the Company received notice from The Nasdaq Stock Market (“Nasdaq”) on November 19, 2024, notifying the Company that it has regained compliance with Nasdaq’s minimum bid price requirement under Nasdaq Rule 5550(a)(2).

David Jin, M.D., Ph.D., CEO of Avalon GloboCare, stated, “Regaining compliance reflects our commitment to our shareholders and reinforces our focus on strong corporate governance. We remain resolute in our mission to drive sustainable long-term value for both our shareholders and stakeholders.”

About Avalon GloboCare Corp.

Avalon GloboCare Corp. (NASDAQ: ALBT) is a commercial stage company dedicated to developing and delivering innovative, transformative, precision diagnostics and clinical laboratory services. Avalon is working to establish a leading role in the innovation of diagnostic testing, utilizing proprietary technology to deliver precise, genetics-driven results. The Company also provides laboratory services, offering a broad portfolio of diagnostic tests, including drug testing, toxicology, and a broad array of test services, from general bloodwork to anatomic pathology, and urine toxicology. For more information about Avalon GloboCare, please visit www.avalon-globocare.com.

For the latest updates on Avalon GloboCare’s developments, please follow our twitter at @avalongc_avco

Forward-Looking Statements

Certain statements contained in this press release are “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as “will”, “anticipate”, “estimate”, “expect”, “should”, “may”, and other words and terms of similar meaning or use of future dates, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact, including statements regarding the ability to enter into a definitive agreement, as well as the Company’s commercialization, distribution and sales of KetoAir and the product’s ability to compete with other testing methods for determining ketosis. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov), including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Form 8-Ks filed or furnished with the SEC. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.

Contact Information:
Avalon GloboCare Corp.
4400 Route 9, Suite 3100
Freehold, NJ 07728
PR@Avalon-GloboCare.com

Investor Relations:
Crescendo Communications, LLC
Tel: (212) 671-1020 Ext. 304
albt@crescendo-ir.com

FAQ

When did Avalon GloboCare (ALBT) regain Nasdaq compliance?

Avalon GloboCare (ALBT) received notice from Nasdaq on November 19, 2024, confirming it had regained compliance with the minimum bid price requirement.

What Nasdaq requirement did Avalon GloboCare (ALBT) comply with?

Avalon GloboCare (ALBT) complied with Nasdaq's minimum bid price requirement under Rule 5550(a)(2).

What was Avalon GloboCare's (ALBT) CEO response to regaining Nasdaq compliance?

CEO David Jin stated that regaining compliance reflects their commitment to shareholders and corporate governance, emphasizing their focus on creating sustainable long-term value.