GRI Bio announces 1-for-17 reverse stock split

GRI Bio (GRI) announced that the board of directors of the company approved a 1-for-17 reverse stock split of the company’s common stock. The reverse split was approved by the stockholders of the company at a special meeting of the company held on February 11. The reverse split is intended to increase the per share trading price of the company’s common stock to enable the company to regain compliance with the minimum bid price requirement for continued listing on Nasdaq.