Tonix Pharmaceuticals Announces 1-For-32 Reverse Stock Split Effective June 10, 2024
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals has announced a 1-for-32 reverse stock split effective June 10, 2024. This move is aimed at increasing the per-share trading price of the company's common stock.

June 06, 2024 | 3:01 pm
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Tonix Pharmaceuticals is implementing a 1-for-32 reverse stock split effective June 10, 2024. This action is intended to increase the per-share trading price of its common stock.
Reverse stock splits are often used by companies to meet minimum price requirements for stock exchanges or to make the stock more attractive to investors. While this can lead to a higher per-share price, it does not change the company's market capitalization. The immediate impact on the stock price is neutral, but it could influence investor perception positively or negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
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