PMGC Holdings (ELAB) said Thursday it plans to implement 1-for-7 reverse stock split in a effort to ensure compliance with Nasdaq's minimum bid price requirement.

The reverse split is slated to take effect at 12 am ET on March 10, the company said.

PMGC shares were down by more than 37% in recent trading.

Price: 0.78, Change: -0.45, Percent Change: -36.50