eFfector Therapeutics board approves 1-for-25 reverse stock split

eFFECTOR Therapeutics announced that its Board of Directors has approved a 1-for-25 reverse stock split of the Company’s common stock. The reverse stock split will become effective at 12:01 A.M. Eastern Time, on January 12, 2024. The Company’s common stock will continue to be traded on the Nasdaq Capital Market under the existing symbol “EFTR” with the new CUSIP number 28202V207 and will begin trading on a split-adjusted basis when the market opens on January 12, 2024. The CUSIP number for eFFECTOR’s publicly traded warrants will not change. The reverse stock split is intended to regain compliance with the minimum bid price requirement of $1.00 per share of the Company’s common stock for continued listing on The Nasdaq Capital Market. The reverse split will affect all issued and outstanding shares of eFFECTOR’s common stock. At the effective time of the reverse stock split the number of shares of common stock issued and outstanding will be reduced from approximately 74.9 million shares to approximately 3.0 million shares. The total authorized number of shares of common stock will be proportionally reduced from 1,000,000,000 to 40,000,000 shares. Proportional adjustments will be made to the number of shares of common stock issuable upon exercise of the Company’s outstanding stock options and warrants, as well as the applicable exercise price.