(RTTNews) - Tonix Pharmaceuticals Holding Corp. (TNXP), a fully-integrated biopharmaceutical company, on Monday announced that its Board of Directors has approved a 1-for-100 reverse stock split of its outstanding common stock, effective February 5, 2025.
The reverse stock split is being implemented to help the company meet the Nasdaq minimum bid price requirement.
As a result of the reverse stock split, every 100 shares of the company's outstanding common stock will be combined into one share.
The company's common stock will continue to trade under the ticker symbol "TNXP" with a new CUSIP number. Fractional shares will be rounded up to the nearest whole share.
The reverse stock split was approved by shareholders on October 30, 2024, and will apply to all outstanding shares, including shares issuable upon the exercise of warrants and stock options.
Currently, TNXP is trading at $0.20 down by 52.74%.
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