CALA - Calithera Biosciences announces 1-for-20 reverse stock split to regain listing compliance

Calithera Biosciences (NASDAQ:CALA) announced that it has filed to effect a 1-for-20 reverse stock split, effective today after market close. The reverse stock split was effected by Calithera in accordance with the authorization, and within the split ratio range, adopted by Calithera stockholders at the 2022 Annual Meeting of Stockholders held on June 1, 2022. The split is in order to enable Calithera to regain compliance with the $1 minimum bid price required for continued listing on the Nasdaq. Post completion of the reverse stock split, there will be ~4.9M shares outstanding; it has Series A convertible preferred shares outstanding which are initially convertible into ~857,843 post-split shares of common stock.

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Calithera Biosciences announces 1-for-20 reverse stock split to regain listing compliance