- iBio ( NYSE: IBIO ) shareholders have approved the company's proposal to provide for a 1-for-25 share reverse stock split.
- Shares are up 7% in Wednesday morning trading.
- However, an SEC filing states that the split would only happen if the company board deems it advisable.
- At a June 30 special shareholder meeting, shareholders rejected a proposal that would have reduced the number of common shares from 275M to 22M after the reverse split.
- IBio ( IBIO ) is a strong sell, according to Seeking Alpha's Quant Rating , with particularly poor grades on growth, momentum, and revisions.
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iBio shareholders approve 1-for-25 reverse stock split