UTime Ltd (WTO) stock took a significant dive on Monday, dropping 26.1% to $0.04 following the company’s announcement of a 1-for-25 reverse share split. This move aims to meet Nasdaq’s minimum $1.00 bid price requirement for continued listing and will reduce the total number of outstanding shares to approximately 18 million. The reverse split is effective on or around September 11th.
Theriva Biologics Inc. (TOVX) stock is on the rise this week, driven by a series of positive developments, including the FDA’s granting of Rare Pediatric Drug Designation (RPDD) for its retinoblastoma treatment, VCN-01, and the allowance of a patent application for treating C. difficile disease. The company’s recent reverse stock split has also contributed to price volatility.
