EyeGate Pharmaceuticals Inc.'s board approved a 1-for-15 reverse split for the company's common stock in order to come under compliance with the Nasdaq Capital Market's listing requirements.
The reverse split will become effective on Aug. 30, at 12:01 a.m. ET and the stock will begin trading on a split-adjusted basis.
Waltham, Mass.-based EyeGate is a clinical-stage pharmaceutical company that develops therapies to treat eye-related diseases and disorders.
VStock Transfer LLC will act as exchange agent for the reverse split.
