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- Pharmaceutical firm ARCA biopharma (NASDAQ:ABIO) mentioned on Friday its board has permitted a reverse stock split of its shares at a ratio of 1-for-12.
- ARCA’s (ABIO) stock is predicted to start buying and selling on a post-reverse stock split foundation on the Nasdaq Global Market on September 3, 2024.
- The firm’s stock will commerce underneath the brand new identify Oruka Therapeutics, and underneath the brand new image “ORKA” after the closing of its merger with Oruka.
- The reverse stock split is predicted to cut back ARCA (ABIO)’s widespread shares from about 14.5M shares to about 1.2M shares.
- ARCA’s shares have been down 3.85% throughout after-hours buying and selling.
Source: Seekingalpha