Curis, Inc. (NASDAQ:CRIS) shares surged 8.51% to $0.46 after the bell on Wednesday, after the Massachusetts-based biotechnology company confirmed its previously approved reverse stock split will take effect on Thursday.
Split Aims To Restore Nasdaq Compliance
According to Curis’s Wednesday filing with the Securities and Exchange Commission, the split becomes effective at 5:00 p.m. ET with split-adjusted trading beginning Jul. 6.
The stock will keep trading under the ticker “CRIS.”
Shareholders approved the split, ranging from 1-for-5 to 1-for-25, at a Jun. 25 special meeting, aimed at helping Curis regain compliance with Nasdaq’s $1.00 minimum bid price rule.
Trading Metrics, Technical Analysis
Curis has a market capitalization of $16.52 million, a 52-week high of $2.01 and a 52-week low of $0.18.
The Relative Strength Index (RSI) of CRIS stands at 48.76.
The biotech stock has dropped 75.88% over the past 12 months.
Currently, CRIS is trading at about 13% of its 52-week range, near the lower end of its annual trading band.
Price Action: The stock closed the regular session down 19.15% at $0.42, according to Benzinga Pro.
Benzinga’s Edge Stock Rankings indicate that CRIS has a negative price trend across all time frames.
Photo Courtesy: Zakharchuk on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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