BUZZ-Moleculin Biotech falls after reverse stock split move

Reuters11-26
BUZZ-<a href="https://laohu8.com/S/MBRX">Moleculin Biotech</a> falls after reverse stock split move

** Shares of drug developer Moleculin Biotech MBRX.O falls 22% at $0.28 in early trading

** Co says it will implement 1-for-25 reverse stock split effective December 1

** A 1-for-25 split means every 25 existing shares will be combined into 1 new share

** Split reduces outstanding shares to about 2.1 million from 51.7 million; authorized shares unchanged at 500 mln - MBRX

** Co's shares will continue to trade on the Nasdaq under the ticker "MBRX," but with a new identification number - MBRX

** Co says shareholders who end up with fractional shares after the split will receive cash instead

** Including session's move, stock down ~83% YTD

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))

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