Aptose Biosciences Inc. (NASDAQ:APTO), a clinical-stage precision oncology company, has announced a reverse stock split set for February 26, 2025. This move aims to comply with Nasdaq's minimum bid price requirement and is expected to enhance the company's appeal to a broader range of investors, including institutional ones. With over 64 million common shares currently outstanding, the reverse stock split will exchange 1 share for every 30 shares.
The reverse stock split has been approved by Aptose's board of directors and is subject to regulatory and stock exchange approvals. As of February 17, 2025, APTO's stock price has seen a 7.56% increase, reflecting a $0.0136 rise to $0.1936.
The stock has experienced significant volatility over the past year, with a high of $1.98 and a low of $0.13. Aptose's market capitalization stands at approximately $11.65 million, with a trading volume of 4,563,611 shares. The reverse stock split is anticipated to potentially reduce volatility and improve liquidity by increasing the stock price, making it more attractive to institutional investors.
