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Cardax plans 200-for-1 reverse stock split

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Cardax plans 200-for-1 reverse stock split

Cardax Inc. said it will effect a 200-for-1 reverse split of its issued and outstanding common stock.

The Honolulu-based biopharmaceutical company said the reverse stock split will be effective at 12:01 a.m. ET on Jan. 15.

The company's common stock will trade on the OTCQB on a split-adjusted basis under its current CDXI ticker symbol.

No fractional shares will be issued under the stock split. Fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share.

Cardax develops dietary supplements for inflammatory health and pharmaceuticals for chronic diseases driven by inflammation and oxidative stress.