D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
NextCure, Inc. (NASDAQ:NXTC) implemented a one-for-twelve reverse stock split of its common stock, effective Monday, following a challenging period where the stock declined 76% over the past year. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 10.26, though it faces profitability challenges. The reverse stock split was approved by its board of directors following authorization from stockholders at the annual meeting held on June 20.
The amendment to NextCure’s certificate of incorporation to effect the reverse split became effective at 12:01 a.m. Eastern Time. As a result, every twelve shares of issued and outstanding common stock were automatically combined into one share. No fractional shares will be issued; instead, stockholders entitled to a fractional share will receive a cash payment equal to the fraction multiplied by the closing price of NextCure common stock on the last trading day prior to the split.
The reverse stock split also proportionally reduces the number of shares available under the company’s 2019 Omnibus Plan and 2019 Employee Stock Purchase Plan, as well as the number of shares subject to outstanding stock options. The exercise price per share for these options will be adjusted upward to reflect the new share count. The total number of authorized shares of common stock remains at 100 million.
Shares of NextCure’s common stock are scheduled to begin trading on a split-adjusted basis Monday on the Nasdaq Global Select Market under the existing ticker symbol “NXTC.”
This information is based on a statement provided in a press release filed with the Securities and Exchange Commission.
In other recent news, NextCure, Inc. has announced the approval and upcoming execution of a one-for-twelve reverse stock split of its common stock, set to take effect on July 14, 2025. This decision, approved by the board of directors, means that every twelve shares of the company’s common stock will be consolidated into one share. Shareholders who are entitled to fractional shares will receive a cash payment based on the closing price of the stock prior to the effective date. Additionally, adjustments will be made to equity awards and plans to reflect the reverse split. In related developments, NextCure’s shareholders also approved several proposals at the company’s 2025 Annual Meeting. This includes the election of three Class III directors and the ratification of Ernst & Young LLP as the independent registered public accounting firm for 2025. Shareholders also agreed to hold the executive compensation vote annually and approved an amendment to authorize the reverse stock split. These decisions were made following a favorable vote from the shareholders, as detailed in the company’s SEC filings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.