Unicycive Therapeutics, Inc. has announced a 1-for-10 reverse stock split of its common stock, effective from June 18, 2025. This move is intended to increase the bid price of the common stock and enable the company to regain compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.
As a result of the reverse stock split, the number of issued and outstanding shares of the company’s common stock will be reduced from approximately 126,409,281 to approximately 12,640,929.
Additionally, proportionate adjustments will be made to the per share exercise prices of outstanding stock options, as well as to the number of shares underlying those options and future awards granted under the company’s stock incentive plans. Proportionate adjustments will also be made to the per share exercise prices of outstanding warrants to purchase shares of the company’s common stock, and to the per share conversion price of the company’s series A and series B preferred stock, pursuant to their respective terms.
The reverse stock split is expected to begin trading on a split-adjusted basis on June 20, 2025, and the company’s common stock will continue to trade on the Nasdaq Capital Market under the symbol “UNCY.”
Unicycive Therapeutics is a clinical-stage biotechnology company developing novel treatments for kidney diseases. Its lead investigational treatment is oxylanthanum carbonate, a novel phosphate binding agent currently under review by the U.S. Food and Drug Administration (FDA) for the treatment of hyperphosphatemia in patients with chronic kidney disease who are on dialysis. The company's second investigational treatment, Uni-494, is intended for the treatment of conditions related to acute kidney injury and has been granted orphan drug designation by the FDA for the prevention of delayed graft function in kidney transplant patients. As a result of these announcements, the company's shares have moved -5.02% on the market, and are now trading at a price of $6.34. If you want to know more, read the company's complete 8-K report here.
