Protagenic therapeutics to effect 1-for-4 reverse stock split

Measure taken to comply with nasdaq rule 5550(a)(2) regarding minimum bid price new york, ny / accesswire / march 22, 2023 / protagenic therapeutics, inc. (nasdaq:ptix, the "company") a biopharmaceutical company focused on developing therapies to treat stress-related neurologic disorders, today announced that the company's board of directors has approved a 1-for-4 reverse stock split of the company's issued and outstanding common stock. the company elaborated that following shareholder approval at the annual meeting of the stockholders held on november 23, 2022 granting the board the authority to effect a reverse split if necessary to comply with nasdaq rule 5550(a)(2) regarding minimum bid price, the company's board of directors has approved a 1-for-4 reverse stock split (the "reverse stock split") of the company's issued and outstanding shares of common stock, par value $0.0001 per share (the "common stock") effective upon the related amendment to the company's third amended and restated certificate of incorporation becoming effective pursuant to delaware law.
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