Karyopharm Therapeutics (KPTI) said Monday it will implement a 1-for-15 reverse stock split, effective at 5 pm ET on Tuesday.
The company said one of the main goals of the reverse stock split is to raise the per-share price of its common stock to enable it to regain compliance with Nasdaq's minimum bid price rule.
Karyopharm said its shares are expected to start trading on a split-adjusted basis when markets open on Wednesday.
The company's shares were down over 3% in recent trading.
Price: 0.58, Change: -0.02, Percent Change: -3.07
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