SELLAS Life Sciences (SLS) Receives Nasdaq Non-compliance Notice

On March 5, 2024, SELLAS Life Sciences (NASDAQ: SLS) received a letter from The Nasdaq Stock Market (“Nasdaq”) stating that the Company has regained compliance under Nasdaq Listing Rule 5550(b)(2) (the “MVLS Rule”) by maintaining a market value of the Company’s common stock (“MVLS”) of greater than $35.0 million, calculated based upon the most recent total shares outstanding multiplied by the closing bid price per share, for the last 10 consecutive business days, and that this matter is now closed. As previously disclosed, on December 6, 2023, the Company received a letter from Nasdaq indicating that the Company was not in compliance with the MVLS Rule because, for a period of 30 consecutive business days, the MVLS had not maintained a minimum of $35.0 million. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company was provided an initial period of 180 calendar days, or until June 3, 2024, to regain compliance with the MVLS Rule.

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