Unicycive Therapeutics, Inc. has announced a 1-for-10 reverse stock split of its common stock, effective June 18, 2025. This move is intended to increase the bid price of the common stock to regain compliance with the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market.
Following 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.
As a result of the reverse stock split, adjustments will be made to the per share exercise prices of the company’s outstanding stock options and warrants, as well as the number of shares available for future awards granted under the company’s stock incentive plans. Proportionate adjustments will also be made to the per share conversion price of the company’s series A and series B preferred stock, pursuant to their respective terms.
The company’s transfer agent, Pacific Stock Transfer Company, will act as the exchange agent for the reverse stock split and will send stockholders of record holding their shares electronically in book-entry form a transaction notice indicating the number of shares of common stock held after the reverse stock split.
Unicycive Therapeutics is a clinical-stage biotechnology company developing therapies for patients with kidney disease. Its lead investigational treatment, oxylanthanum carbonate, is currently under review by the U.S. Food and Drug Administration 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. The market has reacted to these announcements by moving the company's shares -5.02% to a price of $6.34. Check out the company's full 8-K submission here.
