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
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.