trending Market Intelligence /marketintelligence/en/news-insights/trending/WqlZINOFSA2jSwW7eN4izg2 content esgSubNav
In This List

Another proxy firm backs CytRx reverse stock split plan

Blog

Essential IR Insights Newsletter Fall - 2023

Case Study

A Corporation Clearly Pinpoints Activist Investor Activity

Blog

Insight Weekly: Bank mergers of equals return; energy tops S&P 500; green bond sales to rise

Blog

Insight Weekly: US companies boost liquidity; auto insurers hike rates; office sector risk rises


Another proxy firm backs CytRx reverse stock split plan

Institutional Shareholder Services Inc. recommended that CytRx Corp. shareholders vote in favor of the company's proposed reverse stock split at the upcoming Oct. 17 meeting.

The proxy advisory firm was echoing the same advice from Glass Lewis & Co.

The biopharmaceutical company is seeking shareholder approval to implement a 1-for-6 reverse stock split of both its authorized common and preferred stock in an attempt to regain compliance with Nasdaq's $1 minimum bid price requirement to maintain listing on the exchange.