Leap Therapeutics announces 10-for-1 reverse stock split

Leap Therapeutics announced that it will effect a 10-for-1 reverse stock split of its issued and outstanding common stock, effective at 5 PM ET on June 20. Leap expects its common stock to begin trading on a split-adjusted basis on the Nasdaq Capital Market as of the commencement of trading on June 21. “Leap’s stockholders approved the reverse stock split during its 2023 Annual Meeting of Stockholders on June 16, 2023, and granted the Board of Directors authorization to determine the final ratio for the split. The reverse stock split is being implemented to increase the per share trading price of the company’s common stock to meet the minimum Nasdaq listing price per share requirements and to decrease the number of shares outstanding in order to facilitate the conversion of the Series X Non-Voting Convertible Preferred Stock into common stock at 5 PM ET on June 21,” the company stated.