Molecular Templates announced that the board and stockholders of the company approved a 1-for-15 reverse stock split of the company’s common stock at a special meeting of the company held on August 11. The reverse stock split will take effect after the close of trading on The Nasdaq Capital Market at 5:00 p.m. Eastern Time, on Friday, August 11. The reverse stock split is intended to increase the per share trading price of the company’s common stock to enable the company to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.
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