Kintara Therapeutics (KTRA) said Wednesday its board has approved a 1-for-35 reverse stock split of its shares.

The stock will begin trading on a post-split basis on the Nasdaq Capital Market under the new name, TuHURA Biosciences, and under the "HURA" ticker on Thursday. The rebranding follows the anticipated close of its merger with TuHURA Biosciences, Kintara said.

The reverse stock split will reduce Kintara shares to about 1.6 million from around 55.6 million shares, the firm said.

Kintara shares fell more than 7% in recent trading.

Price: 0.21, Change: -0.02, Percent Change: -7.93