Biotech, vaccines, Avant Immunotherapeutics

Avant to Appeal NASDAQ Delisting Decision

Henry Johnson 1/10/08

Avant Immunotherapeutics, a Needham, MA-based vaccine developer, announced on Wednesday that it is appealing a delisting notice from the NASDAQ market. Avant (NASDAQ:AVAN) was told by the stock exchange on January 8 that it would be delisted on January 17 for failing to boost its share price to at least $1 per share. The company’s stock traded just under 60 cents early on Wednesday, representing a steady drop from about $1.50 in March. However, the firm believes its planned reverse stock split in connection with a pending merger with Celldex Therapeutics will boost its share price.