08:27 AM EDT, 07/15/2024 (MT Newswires) -- ASLAN Pharmaceuticals ( ASLN ) said Monday that Nasdaq's Listing Qualifications Department has informed that it was delisting the company's securities because it did not meet the $1 bid price and $2.5 million shareholders' equity requirements for continued listing.

The biopharmaceutical firm said it has decided not to appeal a hearing before the regulator's Hearings Panel.

Shares of the company were down 43% in recent Monday premarket activity.

Price: 1.5200, Change: -1.00, Percent Change: -39.68