Durect falls on reverse stock split plans

DURECT

29/11/2022 15:20

** Shares of Durect Corp  DRRX.O  down ~5% at $0.44 
    ** Biopharma co announces 1-for-10 reverse stock split of
its common stock 
    ** Stock to begin trading on a split-adjusted basis on
market open on Dec. 6
    ** Co says reverse stock split will help it maintain
compliance with Nasdaq's $1 minimum bid price requirement
    ** Reverse stock split to reduce the number of authorized
shares of common stock from 600 mln to 150 mln - DRRX 
    ** Including session moves, stock down ~56% YTD
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))