Assembly Biosciences (ASMB) has released an update.
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On February 9, 2024, Assembly Biosciences, Inc. executed a 1-for-12 reverse stock split after receiving stockholder approval. This corporate action, effective immediately, consolidated the number of existing shares, reducing the total from approximately 65.8 million to about 5.5 million, while maintaining each stockholder’s proportional ownership, barring fractional shares which will be compensated in cash. The stock began trading on its new basis on February 12, 2024, aimed at creating a more appealing capital structure and potentially boosting the stock’s market price.
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