LIXTE Biotechnology Holdings announces reverse stock split to obtain minimum price compliance

LIXTE Biotechnology Holdings (NASDAQ:LIXT) has announced that it will effect a 1-for-10 reverse stock split of its issued and outstanding common stock effective on Friday, June 2, 2023.
The Company’s common stock will trade on a post-split basis on Monday, June 5, 2023.
As a result of the reverse stock split, the Company will have approximately 1,665,909 shares of common stock issued and outstanding.
The reverse stock split is primarily intended to increase the per share trading price of the company's common stock to bring the Company into compliance with Nasdaq’s minimum bid price requirement for continued listing on the Nasdaq Capital Market.
Source: Press Release