Avenue Therapeutics Plans To Effect 1-For-75 Reverse Split Of Its Issued And Outstanding Common Stock
Portfolio Pulse from Benzinga Newsdesk
Avenue Therapeutics announced a 1-for-75 reverse stock split, effective April 26, 2024, with its common stock trading on a split-adjusted basis on the Nasdaq under the same ticker 'ATXI' and a new CUSIP number 05360L403.

April 24, 2024 | 11:32 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Avenue Therapeutics' 1-for-75 reverse stock split is set to take effect on April 26, 2024, with the stock trading on a split-adjusted basis under the same ticker.
Reverse stock splits often aim to increase the market price of a company's shares, making them more appealing to investors and maintaining compliance with exchange listing requirements. However, the immediate market reaction can be unpredictable, as the split does not inherently change the company's valuation. Given the specifics of the split and its aim, the short-term impact on ATXI's stock price is neutral, as the market adjusts to the new share structure.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100