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Oncolytics Biotech implementing reverse stock split, to list on Nasdaq

Canada's Oncolytics Biotech Inc. said it is implementing a 1-for-9.5 reverse stock split and applied to list its shares on the Nasdaq Capital Market.

The consolidation, which was previously authorized by its shareholders, will be effective May 22 and shares are expected to start trading on a post-consolidation basis on both the TSX and OTCQX as of market open May 25.

The company said there are 142,396,222 common shares issued and outstanding, and it expects that there will be 14,989,076 shares issued and outstanding after the reverse split.