Unicycive Therapeutics, Inc. (NASDAQ: UNCY) has announced a 1-for-10 reverse stock split of its common stock, effective June 18, 2025, with shares expected to begin trading on a split-adjusted basis on June 20, 2025. This reverse stock split is intended to increase the bid price of the common stock to 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.
Proportionate adjustments will be made to the per share exercise prices of outstanding stock options and warrants, as well as to the number of shares underlying them. Additionally, adjustments will be made to the per share conversion price of the company’s series A and series B preferred stock.
Unicycive Therapeutics is a clinical-stage biotechnology company developing therapies for patients with kidney disease. Its lead investigational treatment, oxylanthanum carbonate, is 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 (ODD) by the FDA for the prevention of delayed graft function in kidney transplant patients.
For more information about Unicycive, visit unicycive.com. 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. Check out the company's full 8-K submission here.
