(RTTNews) - Biodesix, Inc. (BDSX), a diagnostics solutions company, Thursday announced a one-for-twenty reverse stock split, effective September 15.
The action will reduce the number of shares outstanding to approximately 8 million from about 156 million.
Reverse splits are usually done to continue listing on the exchange, that requires a minimum share price of $1.00.
Biodesix stock was more than 25% down in pre-market. It had closed at $0.5216, up 12.37% on Wednesday. The stock has been trading in the range of $0.1720 - $1.8600 in the last 1 year.
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