UBX - UNITY Biotechnology falls 7% on reverse stock split

• Unity Biotechnology ( NASDAQ: UBX ) announced on Wednesday a 1-for-10 reverse stock split of its common stock, sending its shares down 7.6% in premarket trading.
• The reverse stock split will become effective at 5:00 PM on Wednesday.
• The company said it was going ahead with the reverse stock split to be in compliance with the minimum required closing bid price for continued listing on the Nasdaq Global Select Market.
• The reverse stock split was approved by UNITY’s stockholders at a special meeting of stockholders held on October 18.

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