Outlook Therapeutics Inc.'s board approved a 1-for-8 reverse split of its common stock.

The Cranbury, N.J.-based biopharmaceutical company's common shares will begin trading on a reverse split-adjusted basis from March 18 on the Nasdaq Capital Market.

Outlook's shareholders have already approved the plan.

American Stock Transfer & Trust Co. LLC, which is the company's transfer agent, is acting as the exchange agent for the stock split.