Aditxt gains on 1-for-50 reverse stock split

Aditxt

13/09/2022 22:50

** Shares of biotech firm Aditxt  ADTX.O  up 24.8% at $46 in
after-market trade
    ** Co announces 1-for-50 reverse stock split, effective
after market close on Tuesday  urn:newsml:reuters.com:*:nBw7tW6cpa
    ** Company’s common stock will trade on a post-split basis
under the same symbol ADTX from trade open on Wednesday 
    ** Shares on Tuesday closed at 37 cents: stock
consolidation-adjusted price $18.5
    ** Immediately after the reverse stock split becomes
effective, the company will have about 1.2 mln shares of common
stock issued and outstanding
    ** Reverse stock split is primarily intended to bring ADTX
into compliance with Nasdaq’s $1.00 per share minimum bid price
requirement for continued listing
    ** Up to last close, stock fell 31% this year

 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((Nandhini.srinivasan@thomsonreuters.com))