Biocept has announced a one-for-thirty reverse stock split which became effective at 4:05pm Eastern Time on May 16, 2023.
The company’s common stock will begin trading on a split-adjusted basis as of the open of the market on May 17 under Biocept’s existing ticker symbol “BIOC.”
Every 30 pre-split shares of stock outstanding were automatically combined and converted into one issue and outstanding share of stock as the result of the reverse stock split.
The company said no fractional shares were issued in relation to the reverse stock split. Holders of record will receive a cash payment in lieu of fractional shares, Biocept noted in a statement.
Biocept is a molecular diagnostics company with commercialized assays for patients with carcinomas or melanomas.
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