Catalyst Biosciences Announces Completion Of Business Combination With Beijing Continent Pharmaceuticals And Implementation Of Name Change And 1-For-15 Reverse Stock Split; Company Will Operate As Gyre Therapeutics, Inc. Under Trading Symbol "GYRE"
Portfolio Pulse from Benzinga Newsdesk
Catalyst Biosciences has completed its business combination with GNI Group Ltd. and related entities, and will now operate as Gyre Therapeutics, Inc., trading under the symbol 'GYRE'. The company also implemented a 1-for-15 reverse stock split. Beijing Continent Pharmaceuticals became a majority-owned subsidiary of Gyre as a result of the combination. The changes are effective from October 31, 2023.
October 30, 2023 | 4:02 pm
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Catalyst Biosciences has completed a business combination and will now operate as Gyre Therapeutics, trading under the symbol 'GYRE'. The company also implemented a 1-for-15 reverse stock split.
The business combination and name change to Gyre Therapeutics, along with the reverse stock split, are significant changes for Catalyst Biosciences. However, the short-term impact on the stock price is uncertain as it will depend on how the market reacts to these changes.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
Gyre Therapeutics, previously Catalyst Biosciences, has completed a business combination and implemented a 1-for-15 reverse stock split. The company will trade under the new symbol 'GYRE'.
The business combination, name change, and reverse stock split are significant changes for the company. However, the short-term impact on the stock price is uncertain as it will depend on how the market reacts to these changes.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100