April 25th - $Avenue Therapeutics (ATXI.US)$ is about to implement a 1-for-75 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from April 26th, 2024.
$Avenue Therapeutics (ATXI.US)$ slipped 29.63% and closed at $0.0943 on April 24th with a turnover of $1.2 million. $Avenue Therapeutics (ATXI.US)$ now has a total market capitalization of $4.17 million.
What Is a Reverse Stock Split?
A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares. It does not directly impact a company's value. And it can signal a company in distress since it raises the value of otherwise low-priced shares.
Note:
The company's actual implementation is subject to the final disclosure submitted to the exchange. The information provided herein is for reference only.