Sensei Biotherapeutics (SNSE) said Friday it will implement a 1-for-20 reverse stock split effective Monday, reducing its outstanding shares to 1.3 million from about 25.2 million.
The biotechnology company said the move, approved by shareholders and the board, would enable it to meet Nasdaq's minimum bid price requirement.
The stock will begin trading on a split-adjusted basis starting Tuesday.
Shares of the company were 4.7% lower in Friday's premarket activity.
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