Curis Shareholders Approve Reverse Split to Prevent Nasdaq Delisting; CLL Study Progresses with 11 Active Sites
CRIS sits 26% above its 52-week low of $0.181 on elevated volume (1.9× avg).
Summary
Curis shareholders have approved a reverse stock split, a critical step to address the Nasdaq delisting notice received on May 1st due to its low share price. This follows the 8-K filed yesterday confirming the vote. The company also announced progress in its TakeAim CLL study, with eleven active clinical sites and reaffirmed patient dosing guidance, which is a positive development for its pipeline. The reverse split is crucial for maintaining the company's Nasdaq listing and preventing a move to less liquid markets, especially given the prior 'going concern' warning. The next step will be the Board's implementation of the reverse split.
At the time of this announcement, CRIS was trading at $0.23 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $8.8M. The 52-week trading range was $0.18 to $2.48. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.