Intensity Therapeutics, Inc., a Shelton-based biotechnology company, has regained compliance with Nasdaq listing requirements, about three weeks after it executed a reverse-stock split. The company said Friday it received notice from the Nasdaq Stock Market that it had satisfied a required minimum share price of $1 after the exchange confirmed the share price was at […]
Intensity Therapeutics, Inc., a Shelton-based biotechnology company, has regained compliance with Nasdaq listing requirements, about three weeks after it executed a reverse-stock split.
The company said Friday it received notice from the Nasdaq Stock Market that it had satisfied a required minimum share price of $1 after the exchange confirmed the share price was at least $1 from Feb. 19 through March 4.
On Feb. 17,
Intensity’s board approved a 1-for-25 reverse stock split of the company’s common stock in an effort to increase its per-share stock price and restore compliance with Nasdaq’s minimum bid price rule. The reverse split took effect Feb. 18.
Intensity’s shares gained 3.63% to $8 during Friday’s pre-market trading.
Late last year,
Intensity paused new patient enrollment in its lead Phase 3 cancer study due to lack of sufficient funding.
