By Denny Jacob
Vaccinex will effect a 1-for-15 reverse split of its common stock.
The clinical-stage biotechnology company said the split is set to go into effect at 5:00 p.m. ET and that the stock would trade on a split-adjusted basis beginning Sept. 26.
The company’s board implemented the reverse stock split in order to regain compliance with the $1 minimum bid price requirement of the Nasdaq Capital Market. It has until Oct. 9 to comply with the requirement.
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