HCW Biologics (HCWB) said Tuesday its board has approved a 1-for-40 reverse split of its common stock, effective April 11, to regain compliance with Nasdaq's $1 minimum bid price requirement.
The move will reduce the company's total number of issued and outstanding common shares to about 1.1 million from 44.9 million.
Shares will start trading on a split-adjusted basis also on April 11.
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