Gossamer Bio's 1-for-80 Reverse Split Takes Effect, Authorized Shares Slashed to 50M
GOSS is trading near its 52-week low of $9.104 (98% below the low).
Summary
The 1-for-80 reverse split became effective after market close on September 10, 2026, with shares trading split-adjusted today under a new CUSIP. Authorized common shares dropped from 4 billion to 50 million, and total authorized capital stock fell from 4.07 billion to 120 million. The move is aimed at regaining Nasdaq's $1 minimum bid price by the October 5, 2026 compliance deadline. This follows the shareholder approval in July and the distressed debt exchange and private placement earlier this year. The company's going concern warning and delisting risk remain unresolved, and the reverse split does not change ownership percentages or voting power.
At the time of this announcement, GOSS was trading at $0.16 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $69.6M. The 52-week trading range was $9.10 to $309.60. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: BusinessWire.