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IBio to undertake 1-for-10 reverse stock split

iBio, Inc. said it will undertake a 1-for-10 reverse split of its common stock June 8.

The New York-based biotechnology company's stock will begin trading on the NYSE on a split-adjusted basis starting June 11.

The reverse stock split was authorized by the company's stockholders April 23 while the ratio and effective date were approved by the board May 23.