Avalon Pharmaceuticals Receives Nasdaq Deficiency Notice

Published: Sep 29, 2008

GERMANTOWN, Md.--(BUSINESS WIRE)--Avalon Pharmaceuticals, Inc. (Nasdaq:AVRX), today announced that on September 24, 2008 it received a Deficiency Notice from The NASDAQ Stock Market, LLC notifying the Company that it is not in compliance with NASDAQ Marketplace Rule 4450(a)(5)because the Company’s common stock failed to close above the minimum bid price of $1.00 per share for 30 consecutive business days. This notification has no immediate effect on the NASDAQ listing or trading of the Company’s common stock.

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