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NeuroBo Pharmaceuticals ( NASDAQ: NRBO ) shares are surging 56% on announcing a 1-for-30 reverse split of its common stock, par value $0.001.
The trading on a split adjusted basis will commence on Nasdaq from September 13, 2022.
The number of authorized shares of the company's common stock will remain at 100M, while the number of outstanding shares will be reduced from ~26.7M to ~0.9M.