Virpax Pharmaceuticals Announces 1-For-10 Reverse Stock Split to Regain Compliance with Nasdaq's Minimum Bid Price, Effective March 1, 2024
Portfolio Pulse from Benzinga Newsdesk
Virpax Pharmaceuticals announced a 1-for-10 reverse stock split effective March 1, 2024, aimed at regaining compliance with Nasdaq's minimum bid price requirement.

February 27, 2024 | 12:33 pm
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Virpax Pharmaceuticals' 1-for-10 reverse stock split is intended to boost its stock price to comply with Nasdaq's minimum bid price requirement.
Reverse stock splits are often used by companies to increase their share price to comply with exchange listing requirements. While this does not fundamentally alter the company's value, it can affect investor perception and potentially improve compliance with listing standards. For VRPX, this move is directly aimed at regaining compliance with Nasdaq's minimum bid price requirement, which could prevent delisting and may positively impact investor confidence in the short term.
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