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ORTX - Orchard Therapeutics announces 1-for-10 ADS ratio change
Orchard Therapeutics plc
Orchard Therapeutics ( NASDAQ: ORTX ) said it plans to change the ratio of its American Depositary Shares to its ordinary shares, nominal value £0.10 per share, to a new ADS Ratio of one ADS to ten ordinary shares.
The company expects the ADS ratio change to be effective on or about March 10.
The change in the ADS Ratio will have the same effect as a one-for-ten reverse ADS split and is intended to enable the company to regain compliance with the Nasdaq minimum bid price requirement.