Acurx Approves 1-for-20 Reverse Stock Split To Regain Nasdaq Compliance
(RTTNews) - Acurx Pharmaceuticals (ACXP) announced a 1-for-20 reverse stock split of its common shares, set to take effect on August 4, 2025.
Trading will begin on a split-adjusted basis on August 5 under the same ticker symbol, with a new CUSIP number. The move aims to boost the share price to meet Nasdaq's minimum bid price requirement.
Approved by stockholders at the July 17 annual meeting and ratified by the board, the split will reduce outstanding shares from roughly 30.76 million to about 1.54 million. Shareholders will not receive fractional shares; instead, they will get a cash payment based on the August 1 adjusted closing price.
ACXP currently trades at $0.326 or 1.1522% lower on the NasdaqCM.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.