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Ritter Pharmaceuticals board approves 1-for-10 reverse stock split

Ritter Pharmaceuticals Inc.'s board has set a ratio of 1-for-10 for a reverse split of its common stock.

The effective date for the reverse stock split is expected to be on or before March 23.

The split was approved by the Los Angeles-based company's stockholders at a special meeting of stockholders on Dec. 20, 2017.

Corporate Stock Transfer Inc. will act as exchange agent for the split.

Ritter Pharmaceuticals develops novel therapeutic products to treat gastrointestinal diseases.