Traws Pharma ( (TRAW) ) has shared an announcement.
Traws Pharma, Inc. announced significant changes including the approval and implementation of a one-for-twenty-five reverse stock split, effective September 20, 2024, with shares trading on a split-adjusted basis starting September 23, 2024. Additionally, shareholders backed an increase in authorized shares of common stock and the conversion of Series C Preferred Stock. The reverse stock split aims to reduce the number of outstanding shares from approximately 45.7 million to about 1.8 million, enhancing the stock’s marketability and compliance with Nasdaq’s listing requirements. These strategic moves come as Traws continues developing oral therapies for respiratory diseases and cancer.
For a thorough assessment of TRAW stock, go to TipRanks’ Stock Analysis page.
