Cidara Therapeutics Shares Drop Following 1-for-20 Reverse Stock Split

Cidara Therapeutics Shares Drop Following 1-for-20 Reverse Stock Split

Cidara Therapeutics Inc.’s (CDTX) stock price has fallen by 24.4% to $0.52 on Monday after the company announced a 1-for-20 reverse stock split. This decision was approved by stockholders at a special meeting on April 4.

The reverse split will consolidate the company’s shares, with each 20 shares of existing common stock being combined into one share. The company’s common stock will remain listed on the Nasdaq Capital Market.

The reverse split affects all common stockholders proportionally, without altering their ownership percentage, except for fractional shares, which will be compensated with cash payments.

Investors can purchase CDTX stock through brokerage platforms or by investing in exchange traded funds (ETFs) that hold the stock. The company operates in the Health Care sector, and ETFs that track this sector can provide investors with exposure to the trends within that segment.