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Alliqua BioMedical implements 1-for-10 reverse stock split

Alliqua BioMedical Inc. implemented a 1-for-10 reverse stock split of its issued and outstanding common stock Oct. 5.

The company's common stock will begin trading on a split-adjusted basis Oct. 6 and will remain listed on the Nasdaq Capital Market under the symbol ALQA.

The reverse split will reduce Alliqua's outstanding shares to about 4.9 million.

The company's shareholders approved the split Sept. 13 and its board approved the implementation Oct. 2.