A reverse stock split went into effect today for Delcath Systems (OTC:DCTH) — developer of the Chemostat hepatic delivery system for treating cancer.
The 1-for-700 reverse stock split is meant to reduce the number of common stock shares and shares reserved for issuance to 1.2 million, from a previous 1.4 billion.
The authorized number of shares of common stock the company is authorized to issue which will remain at 1 billion.
Get the full story on our sister site Drug Delivery Business News.