Pieris Pharmaceuticals Enacts Reverse Stock Split for NASDAQ Compliance

The latest update is out from Pieris Pharmaceuticals (PIRS).

Pieris Pharmaceuticals, Inc. is implementing a 1-for-80 reverse stock split to boost its stock price above the $1.00 threshold, aiming to meet Nasdaq’s minimum bid price requirement. Set to take effect at market open on April 23, 2024, the move will automatically adjust shareholders’ stock quantities, ensuring no fractional shares remain by rounding up to whole shares. The action doesn’t require shareholder approval and is intended to help the company maintain its Nasdaq listing without changing shareholder equity, except for minimal adjustments due to the rounding of shares.

Learn more about PIRS stock on TipRanks’ Stock Analysis page.