PaxMedica Announces 1-for-17 Reverse Stock Split
31 10월 2023 - 12:30AM
via IBN — PaxMedica, Inc. (Nasdaq: PXMD), a clinical
stage biopharmaceutical company focusing on the development of
novel anti-purinergic drug therapies (APT) for the treatment of
Autism Spectrum Disorder (ASD) and other serious conditions with
intractable neurologic symptoms, today announced that as a result
of its 1-for-17 reverse stock split of its common stock that became
effective at 8:03 a.m. Eastern Time on October 30,
2023, its common stock will begin trading on a split-adjusted basis
with the open of the market on October 31, 2023. PaxMedica’s common
stock will continue to trade under the existing trading symbol
“PXMD.” The new CUSIP number for the common stock following the
reverse stock split is 70424C 203.
As a result of the reverse stock split, each 17 pre-split shares
of common stock outstanding were automatically combined and
converted into one issued and outstanding share of common stock. No
fractional shares of common stock were issued to any stockholders
in connection with the reverse stock split. Holders of record who
would otherwise have been entitled to receive a fractional share
received a number of shares rounded up to the next whole share in
lieu of fractional shares.
Stockholders of record will receive information regarding their
share ownership following the reverse stock split from the
Company’s transfer agent, Computershare Trust Corporation,
N.A. Computershare can be reached at (800) 564-6253 or by
email at web.queries@computershare.com.
For additional information regarding the reverse stock split,
please refer to PaxMedica’s Current Report on Form 8-K, filed with
the Securities and Exchange Commission on October
30, 2023.
About PaxMedica
PaxMedica is a clinical stage biopharmaceutical company focusing
on the development of anti-purinergic drug therapies (“APT”) for
the treatment of disorders with intractable neurologic symptoms,
ranging from neurodevelopmental disorders, including Autism
Spectrum Disorder (“ASD”), to Myalgic Encephalomyelitis/Chronic
Fatigue Syndrome (“ME/CFS”), a debilitating physical and cognitive
disorder. One of PaxMedica’s primary points of focus is the
development and testing of its lead program, PAX-101, an
intravenous formulation of suramin, in the treatment of ASD and the
advancing the clinical understanding of using that agent against
other disorders such as ME/CFS. For more information, visit
www.paxmedica.com.
Interested investors and shareholders are encouraged to sign up
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Contacts
PaxMedica, Inc. 303 S Broadway, Suite 125.
Tarrytown, NY 10591 www.paxmedica.com
Media Contact media@paxmedica.com
Investor Contact Scott McGowan
InvestorBrandNetwork (IBN) Phone: 310.299.1717 ir@paxmedica.com
www.paxmedica.com/investors
PaxMedica (NASDAQ:PXMD)
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PaxMedica (NASDAQ:PXMD)
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