Unicycive Therapeutics, Inc. has announced a 1-for-10 reverse stock split of its common stock, which will come into effect at 4:01 p.m. Eastern Time on June 18, 2025. This move is intended to increase the bid price of the common stock and ensure 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.
The reverse stock split will also lead to proportionate adjustments in the per share exercise prices of outstanding stock options and warrants, as well as 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. These adjustments will occur automatically at the effective time of the reverse stock split without any further action required by the company’s stockholders.
Unicycive Therapeutics, Inc. 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 (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. For the full picture, make sure to review Unicycive Therapeutics's 8-K report.
