(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.
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