FibroBiologics announces 1-for-20 reverse stock split

FibroBiologics (FBLG) announced that its board of directors has approved a 1-for-20 reverse stock split of the company’s issued and outstanding common stock. The board determined that implementing the reverse split at this time is appropriate to regain compliance with the minimum bid price requirement for maintaining the listing of the company’s common stock on The Nasdaq Capital Market and to broaden potential investor interest. The reverse stock split is expected to become effective at 12:01 AM ET on March 30, with trading on a split-adjusted basis beginning on Monday, March 30.