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Investing.com -- BiomX Inc. (NYSE American:PHGE) stock tumbled 14% in after-hours trading on Friday following the company’s announcement of a planned 1-for-19 reverse stock split.
The clinical-stage phage therapy developer said the reverse split will take effect on November 25, 2025, with the stock continuing to trade under the existing "PHGE" symbol on the NYSE American exchange. The move was previously approved by stockholders at the company’s annual meeting on October 16, with the final ratio determined by the Board of Directors on November 13.
Following the split, BiomX’s outstanding shares will be reduced from approximately 29 million to about 1.53 million. The company noted that the reverse split will not alter any stockholder’s percentage ownership interest, except for minor adjustments related to fractional shares, which will be rounded up to the next whole share.
The reverse split will also proportionally adjust shares underlying outstanding equity awards, warrants, and convertible preferred stock, as well as shares issuable under the company’s stock incentive plans. The par value of the common stock and the authorized number of shares will remain unchanged.
BiomX is developing phage therapies that target specific pathogenic bacteria. Continental Stock Transfer & Trust Company will handle the exchange process for stockholders who hold stock certificates, while those holding shares in book-entry form or brokerage accounts won’t need to take any action.
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