TrovaGene Inc. said it will undertake a 1-for-12 reverse split of its common stock.
The San Diego-based oncology therapeutics company said its stock will begin trading on the Nasdaq Capital Market on a split-adjusted basis when the markets open June 4.
The company's outstanding common shares will be reduced to 4.9 million shares from 59.4 million shares following the stock split.
The reverse stock split has the approval of the company's board and a majority of its shareholders.
