Athersys falls on 1-for-25 reverse stock split plan

Athersys

26/08/2022 11:31

** Shares of biotech company Athersys Inc  ATHX.O  slide
~19% to $0.14 premarket
    ** Co late on Thursday said it would execute a 1-for-25
reverse stock split of its outstanding shares of common stock
 urn:newsml:reuters.com:*:nBw4jQpTPa
    ** Shares to begin trading on a split-adjusted basis after
market opens on Monday
    ** Reverse stock split primarily intended to bring the co
into compliance with Nasdaq's minimum bid price requirement -
ATHX
    ** ATHX has 323.29 mln shares outstanding - Refinitiv data
    ** As of last close, stock down ~81% YTD

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))