MetaVia (MTVA) said Tuesday it will implement a 1-for-11 reverse stock split of its common stock.
The split-adjusted shares will begin trading on the Nasdaq Capital Market on Friday and is intended to comply with Nasdaq's continued listing requirements, the company said.
MetaVia said the reverse split will reduce the number of outstanding shares to 2.3 million from about 25.4 million.
Shares of MetaVia fell over 17% in recent Tuesday trading.
Price: 0.62, Change: -0.13, Percent Change: -17.40