NetworkNewsBreaks — PaxMedica Inc. (NASDAQ: PXMD
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Posted On: 10/30/2023 5:07:15 PM
NetworkNewsBreaks — PaxMedica Inc. (NASDAQ: PXMD) Reports on 1-for-17 Reverse Stock Split
PaxMedica (NASDAQ: PXMD), a clinical-stage biopharmaceutical company focusing on the development of novel anti-purinergic drug therapies (“APT”) for the treatment of autism spectrum disorder (“ASD”) and other serious conditions with intractable neurologic symptoms, has released information regarding its 1-for-17 reverse stock split. According to the announcement, as a result of the reverse stock split of PaxMedica’s common stock that became effective at 8:03 a.m. ET today, the company’s common stock will begin trading on a split-adjusted basis tomorrow, Oct. 31, 2023, when the market opens. The company noted that its common stock will continue to trade under the existing trading symbol PXMD. “As a result of the reverse stock split, each 17 presplit shares of common stock outstanding were automatically combined and converted into one issued and outstanding share of common stock,” the company stated in the press release. “No fractional shares of common stock were issued to any stockholders in connection with the reverse stock split. Holders of record who would otherwise have been entitled to receive a fractional share received a number of shares rounded up to the next whole share in lieu of fractional shares.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
PaxMedica (NASDAQ: PXMD), a clinical-stage biopharmaceutical company focusing on the development of novel anti-purinergic drug therapies (“APT”) for the treatment of autism spectrum disorder (“ASD”) and other serious conditions with intractable neurologic symptoms, has released information regarding its 1-for-17 reverse stock split. According to the announcement, as a result of the reverse stock split of PaxMedica’s common stock that became effective at 8:03 a.m. ET today, the company’s common stock will begin trading on a split-adjusted basis tomorrow, Oct. 31, 2023, when the market opens. The company noted that its common stock will continue to trade under the existing trading symbol PXMD. “As a result of the reverse stock split, each 17 presplit shares of common stock outstanding were automatically combined and converted into one issued and outstanding share of common stock,” the company stated in the press release. “No fractional shares of common stock were issued to any stockholders in connection with the reverse stock split. Holders of record who would otherwise have been entitled to receive a fractional share received a number of shares rounded up to the next whole share in lieu of fractional shares.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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