CWBR - CohBar stock gains on 1-for-30 reverse stock split

• CohBar ( NASDAQ: CWBR ) shares gained 16% premarket on Thursday after the biotech firm announced a 1-for-30 reverse stock split of its common stock.
• The move is intended to enable the company to regain compliance with the Nasdaq $1.00 minimum bid price requirement.
• The reverse stock split will become effective at 12:01am ET on Sep 23, 2022 and begin trading on a split-adjusted basis at the market open on Sep 23, 2022.
• Concurrent with the approval of the reverse stock split, the shareholders also approved an effective increase in the number of authorized shares of the company's common stock. Subsequent to the reverse stock split and adjusting for the effective increase in authorized shares, there will be ~12M shares of common stock authorized for issuance.

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