Abiopharma

To regain compliance with the Minimum Bid Price Requirement, Mereo was required to maintain a minimum closing bid price of $1. The Notification Letter confirmed that the Company evidenced a closing bid price of the Companys ADSs on Nasdaq at or greater than the $1. As announced on May 26, 2022, the Company was notified by Nasdaq that it was not in compliance with the Minimum Bid Price Requirement, as the closing bid price of the Companys American Depositary Shares (the ADSs) had been below US$1.