Aethlon Medical Inc.'s board approved a 1-for-15 reverse stock split of its outstanding common shares.

Shareholders of the San Diego-based healthcare equipment company authorized the board to carry out a reverse stock split at the annual meeting Oct. 14.

The company's shares will start trading on a post-split basis at market open on Oct. 15.

Aethlon, which creates devices to address unmet medical needs in health and biodefense worldwide, will not issue any fractional shares as a result of the split. The company will issue an additional fraction of the share to give a full common share.

Computershare Trust Co. NA is the exchange agent for the reverse stock split.