AcelRx Pharma drops on reverse stock split plan

Talphera

26/10/2022 12:12

** Shares of AcelRx Pharmaceuticals Inc  ACRX.O  fall ~24%
to $3.20 premarket
    ** Co late on Tuesday announces 1-for-20 reverse stock split
of its common stock  urn:newsml:reuters.com:*:nPn7CPLqla
    ** Reverse stock split intended to enable AcelRx to regain
compliance with minimum bid price required for continued listing
on the Nasdaq Global Market - ACRX
    ** Stock to begin trading on a split-adjusted basis on
market open today
    ** Reverse share split to reduce number of shares of
AcelRx's common stock outstanding from ~147.3 mln to ~7.4 mln
    ** As of last close, stock had lost ~98% YTD
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))