Sonnet BioTherapeutics ticks up on reverse stock split plan
16/09/2022 13:51
** Shares of Sonnet BioTherapeutics SONN.O jump ~20% to 28
cents before the bell
** Cancer-focused biotech announces 1-for-14 reverse stock
split of its common stock, effective Sept 19 urn:newsml:reuters.com:*:nFWN30N0LA
** Adds that reverse stock split is intended to increase
SONN's trading price to satisfy $1 minimum bid price requirement
for continued listing on Nasdaq
** As of last close, SONN down ~45% YTD
(Reporting by Bhanvi Satija in Bengaluru)
((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))