Why Did INTS Stock Plummet 30% Pre-Market Today?
Synopsis
Intensity Therapeutics announced a 1-for-25 reverse stock split, consolidating every 25 existing shares into a single new share.
Intensity Therapeutics, Inc. (INTS) on Friday announced a 1-for-25 reverse stock split approved by its board and shareholders, aiming to boost the per-share price of its common stock to meet Nasdaq’s minimum listing requirements.
The reverse split, scheduled to take effect at 4:01 p.m. ET on February 18, will consolidate every 25 existing shares into a single new share.
After the adjustment, Intensity Therapeutics stock will begin trading on February 19, under a new CUSIP number 45828J 202 while retaining the ticker symbol INTS.
Following the announcement, Intensity Therapeutics stock traded nearly 30% lower in Friday’s premarket.
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