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DURHAM, N.C.--(BUSINESS WIRE)--Precision BioSciences, Inc. (Nasdaq: DTIL), an advanced gene editing company utilizing its novel proprietary ARCUS® platform to develop in vivo gene editing therapies for sophisticated gene edits, including gene elimination, insertion, and excision, today announced that its Board of Directors has approved a 1-for-30 reverse stock split of the Company’s common stock. The reverse stock split will become effective at 5:00 p.m. Eastern Time on February 13, 2024, after close of trading on The Nasdaq Capital Market. The Company’s common stock is expected to commence trading on a split-adjusted basis when the markets open on February 14, 2024 under the existing trading symbol “DTIL.” The new CUSIP number for the Company’s common stock following the reverse stock split will be 74019P207.
The primary goal of the reverse stock split is to increase the per share market price of the Company’s common stock to meet the minimum per share bid price requirement for continued listing on The Nasdaq Capital Market. The reverse stock split was approved by the Company’s stockholders at its special meeting of stockholders held on January 18, 2024. On February 6, 2024, the Company’s Board of Directors approved the reverse stock split at the ratio of 1-for-30.
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