Catalyst Biosciences Inc. will do a reverse stock split of one-for-fifteen effective Friday in order to maintain its Nasdaq listing, the company said. Catalyst stock was priced at 55 cents per share as of Thursday’s close, and Nasdaq requires a minimum bid price of $1 for at least 10 consecutive days, which Catalyst must meet by May 30. The split will transition about 13 million pre-split shares to under 900,000 post-split shares on Feb. 13. Catalyst shares have sunk 17.9% over the last three months, compared with a 6.5% rise in the S&P 500 .
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