22nd Century Group falls after reverse stock split announcement

22nd Century

03/07/2023 11:24

** Shares of biotech co 22nd Century Group Inc  XXII.O  down
8% at $0.35, premarket
    ** Co announces reverse stock split of its outstanding
shares of common stock at ratio of 1-for-15; to be effective on
July 5
    ** Reverse stock split is intended for co to regain
compliance with minimum bid price requirement for continued
listing on Nasdaq
    ** XXII shares down ~60% YTD    

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))