Avalo Therapeutics Announces 1-For-240 Reverse Stock Split Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Avalo Therapeutics has announced a 1-for-240 reverse stock split of its common stock. The split-adjusted trading on the Nasdaq Capital Market will begin on December 29, 2023, under the existing symbol 'AVTX'. This action will decrease the outstanding shares from roughly 192.4 million to approximately 801,611.
December 27, 2023 | 12:03 pm
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Avalo Therapeutics' reverse stock split is likely to reduce the number of outstanding shares significantly, which could potentially increase the stock price in the short term due to reduced supply.
Reverse stock splits often lead to a temporary increase in stock price as the reduced number of shares can lead to a perception of increased value or to meet exchange listing requirements. However, the long-term effect depends on the company's performance and market perception.
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