Galmed Pharmaceuticals To Implement 1-For-12 Reverse Share Split Of Ordinary Shares
Portfolio Pulse from Benzinga Newsdesk
Galmed Pharmaceuticals announced a 1-for-12 reverse share split of its ordinary shares, effective on October 16, 2023. This move is aimed at regaining compliance with Nasdaq's minimum bid price requirement.
August 27, 2024 | 8:29 pm
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Galmed Pharmaceuticals is conducting a 1-for-12 reverse share split to meet Nasdaq's minimum bid price requirement. This could affect the stock's liquidity and market perception.
The reverse share split is a strategic move to increase the share price and comply with Nasdaq's listing requirements. While it may improve compliance, it could also reduce liquidity and affect investor perception negatively.
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