Valeritas (NSDQ:VLRX) said today that its board of directors approved a 1-for-20 reverse split of its common stock.

Through the move, the Bridgewater, N.J.-based company said that each owner of its common stock will receive a single share for every 20 shares they previously held. Fractional shares as a result of the split will be settled in cash, the company said.

Read the whole story on our sister site, Drug Delivery Business News