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
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.