Citius Pharmaceuticals Inc. is performing a 1-for-15 reverse stock split June 9.
The move will reduce the company's outstanding common shares to about 5.05 million shares from about 75.8 million shares.
Upon completion, the company will seek listing on a senior exchange to attract a broader range of investors and to increase share liquidity. Citius Pharmaceuticals trades on the OTC Bulletin Board.
VStock Transfer LLC is acting as the company's exchange agent for the reverse split.