CytRx falls as it goes 1-for-7 stock consolidation to meet Nasdaq's $1.00 rule
This article was originally published in Scrip
The already low stock price for Los Angeles-based CytRx dropped 7.5% to $0.37 on 15 May after the oncology-focused specialty biopharmaceutical company announced that it would institute a 1-for-7 reverse stock split when the market opens on 16 May to regain compliance with Nasdaq's $1 per share minimum listing requirement.
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