CytRx falls as it goes 1-for-7 stock consolidation to meet Nasdaq's $1.00 rule
This article was originally published in Scrip
Executive Summary
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.
You may also be interested in...
Xaira Launches With $1bn-Plus And End-To-End AI Strategy
ARCH and Foresite incubated the company and recruited Genentech R&D veteran Marc Tessier-Lavigne to keep data generation, machine learning research and drug development under one roof.
Biogen Sees Improving Momentum In Slow Leqembi Launch
Sales of the company’s new drugs have a lot of growing to do to make up for older products’ declines, but Biogen highlighted signs of strength for new launches in its Q1 report.
Sanofi Clinches Key Phase III Immunology Win With Rilzabrutinib
Sanofi’s BTK inhibitor – one of two from its 2021 Principia buy – passed a Phase III test in immune thrombocytopenia as the company focuses on Dupixent-like blockbusters going forward.