Pennington, N.J.-based cancer drug developer OncoSec Medical Inc.'s board approved a 1-for-10 reverse stock split of its common stock, effective May 20.

The move reduced the company's issued and outstanding common shares to about 7 million from approximately 70 million.

OncoSec's shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market under the ticker ONCS, effective May 21.