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MabVax schedules reverse stock split with hopes to regain Nasdaq compliance
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San Diego-based MabVax Therapeutics Holdings Inc. has scheduled its previously announced 1-to-3 reverse stock split for Feb. 16.
With the stock split, the biotech company hopes to regain compliance with Nasdaq's listing rule that requires a $1.00 minimum closing bid price for at least 10 trading days.
MabVax has until March 5 to regain compliance with the stock market.
The company previously regained compliance with Nasdaq's minimum equity requirement in November 2017.