(RTTNews) - TransCode Therapeutics, Inc. (RNAZ), a company focused on cancer treatment using RNA therapeutics, said on Monday that its Board has approved a 1-for-33 reverse stock split.
This move aims to increase the per share trading price to enable the firm to satisfy the minimum bid price requirement for continued listing on the Nasdaq.
The 1-for-33 reverse stock split will automatically convert 33 current RNAZ shares into one new share.
The reverse split will reduce the number of shares from 17,265,658 shares to around 523,202 shares, the company said.
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