Struggling biomedical company Cesca Therapeutics Inc. on Wednesday announced a 1-for-20 reverse stock split in a move designed to keep the company on the Nasdaq stock exchange.
In October the Nasdaq gave Cesca (Nasdaq: KOOL) another 120 days to get its share price over $1. An earlier warning last spring gave the company six months, during which time it failed to get above that threshold.
The company’s stock closed at 24 cents on Wednesday. They had traded as high as $25 in 2004.
The Rancho Cordova…Struggling biomedical company Cesca Therapeutics Inc. on Wednesday announced a 1-for-20 reverse stock split in a move designed to keep the company on the Nasdaq stock exchange.
In October the Nasdaq gave Cesca (Nasdaq: KOOL) another 120 days to get its share price over $1. An earlier warning last spring gave the company six months, during which time it failed to get above that threshold.
The company’s stock closed at 24 cents on Wednesday. They had traded as high as $25 in 2004.
The Rancho Cordova…