NeuroBo Pharmaceuticals announces 1-for-8 reverse stock split

NeuroBo Pharmaceuticals announced a 1-for-8 reverse stock split of the company’s Common Stock, par value 0.1c. Beginning on December 21, the company’s Common Stock will trade on Nasdaq on a split adjusted basis. At the company’s annual meeting of stockholders on June 28, the stockholders approved a proposal to effect a reverse split of the company’s outstanding common stock at a ratio in the range of 1-for-5 to 1-for-8 to at the discretion of the Board, to enable the company to comply with Nasdaq continued listing requirements. The company’s common stock will continue to trade on The Nasdaq Capital Market under the symbol “NRBO“. The new CUSIP number for the common stock following the reverse split is 64132R 404. The number of authorized shares of the company’s common stock will remain at 100 million, while the number of outstanding shares will be reduced from approximately 38.8 million to approximately 4.85 million.