InMed Pharmaceuticals down after share consolidation plan
24/08/2022 12:45
** Drug developer InMed Pharmaceuticals Inc's shares INM.O
fall 20.4% to 28 cents before the bell
** Co says late Tuesday it will be consolidating its
outstanding share capital; Reducing to about 720,000 from about
18 mln common shares on a non-diluted basis urn:newsml:reuters.com:*:nGNX7WN07y
** Adds the consolidation is to regain compliance with all
of Nasdaq’s listing requirements; the common shares will begin
trading on a split-adjusted basis from Sept. 7
** Up to Tuesday's close, stock down ~73% YTD
(Reporting by Khushi Mandowara)
((Khushi.Mandowara@thomsonreuters.com;))