Entero Therapeutics, Inc. announced a 1 for 3 reverse stock split of its common stock.
The reverse stock split is aimed at regaining compliance with Nasdaq listing requirements.
Shareholders will see a reduction in outstanding common stock post-split.
Reverse Stock Split
1 for 3 reverse stock split to comply with Nasdaq listing rule.
Impact on Shares
Reduction from approximately 4.77 million to 1.59 million shares.
CEO Statement
Richard Paolone views the split as a step to enhance shareholder value.
Company Focus
Entero Therapeutics focuses on GI disease therapies like Adrulipase.
- The split will reduce outstanding shares and potentially increase stock visibility.
- Compliance with Nasdaq listing requirements is crucial for market reputation.
The reverse stock split reflects Entero Therapeutics' commitment to maintain Nasdaq market listing and enhance shareholder value in the GI disease therapy sector.