Kezar Life Sciences (KZR) said Monday it will implement a reverse stock split at a ratio of 1-for-10.

The shares will start trading on a post-split basis on Oct. 30, the company said.

The split is part of a plan to regain compliance with Nasdaq's minimum bid price rule of $1 per share, the company said.

Shares of Kezar Life Sciences were down 1.4% in recent trading.

Price: 0.77, Change: -0.01, Percent Change: -1.39