Indication intelligence, analysis and sector perception

Avrobio (AVRO) received De-Listing Notice for being under $1.00 compliance with Nasdaq, has 180 days to correct

October 19, 2022 5:42pm

AVRO has been under $1.00 for 38 sessions

8-K filed on 8/7/22: On October 4, 2022, AVROBIO (AVRO) received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market notifying the Company that, it has been deficient and under $1.00.

The Company’s common stock, $0.0001 par value per share had not maintained a minimum bid price of $1.00 per share, required for continued listing on The Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”).

In accordance with Nasdaq Listing Rule 5810(c)(3)(A) (the “Compliance Period Rule”), the Company has 180 calendar days, or until April 3, 2023 (“Compliance Date”), to regain compliance

The Bottom Line: keep collecting those BIG paychecks and FORGETTING shareholders!

DISPOSE Avrobio (AVRO) who experiences news and the stock drops after a de-listing notice while the management DID NOTHING to AVOID this dilemma while president, CEO and director Geoff Mackay carries home a HUGE salary of $754.39 K per year?

AVRO closed up om Monday +$0.02 to $0.60 which STILL does NOT get close to the $1.00 to continue its Nasdaq listing after a delisting notice.

Will AVRO have to “commission" a stock reverse to address delisting?

52-week low of $0.56 and a high of $6.62
Shares outstanding: 43.77 M
Float: 32.39 M
Short ratio: 1.75
Short percentage (%) of flat: 0.74%

Key to Why (?); percent (%) owned by insiders/management … 2.68% - ABYSMAL - extremely poor!

35 companies, 1 interpreter!

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