Revelation Biosciences announces 1-for-3 reverse stock split, effective July 7

Revelation Biosciences (REVB) announced that, on July 7, the company will implement a 1-for-3 reverse split of its common stock following approval at its Special Meeting of Stockholders held on June 23. The reverse stock split will be effective as of the morning of July 7, and the company’s common stock will trade on a post-split basis at the beginning of trading on the same date under the existing trading symbol “REVB.” The CUSIP number for the common stock following the reverse stock split will be 76135L705. The reverse stock split is intended to increase the market price per share of the company’s common stock to regain compliance with the minimum bid continued listing requirement of The Nasdaq Capital Market. Proportionate adjustments will be made to the conversion and exercise prices of the company’s warrants, restricted stock unit awards, stock options and to the number of shares issued and issuable under the Company’s equity incentive plans. Separately, the company also announced that it’s ongoing PRIME Phase 1b clinical study of Gemini in CKD patients is expected to complete enrollment this month and topline data expected shortly after.