PaxMedica (NASDAQ: PXMD), a clinical-stage biopharmaceutical company focusing on the development of novel anti-purinergic drug therapies (“APT”) for the treatment of autism spectrum disorder (“ASD”) and other serious conditions with intractable neurologic symptoms, has released information regarding its 1-for-17 reverse stock split. According to the announcement, as a result of the reverse stock split of PaxMedica’s common stock that became effective at 8:03 a.m. ET today, the company’s common stock will begin trading on a split-adjusted basis tomorrow, Oct. 31, 2023, when the market opens. The company noted that its common stock will continue to trade under the existing trading symbol PXMD. “As a result of the reverse stock split, each 17 presplit shares of common stock outstanding were automatically combined and converted into one issued and outstanding share of common stock,” the company stated in the press release. “No fractional shares of common stock were issued to any stockholders in connection with the reverse stock split. Holders of record who would otherwise have been entitled to receive a fractional share received a number of shares rounded up to the next whole share in lieu of fractional shares.”
To view the full press release, visit https://ibn.fm/iIYGS
About PaxMedica Inc.
PaxMedica is a clinical-stage biopharmaceutical company focusing on the development of anti-purinergic drug therapies (“APT”) for the treatment of disorders with intractable neurologic symptoms, ranging from neurodevelopmental disorders, including autism spectrum disorder (“ASD”) to myalgic encephalomyelitis/chronic fatigue syndrome (“ME/CFS”), a debilitating physical and cognitive disorder. One of PaxMedica’s primary points of focus is the development and testing of its lead program, PAX-101, an intravenous formulation of suramin, in the treatment of ASD and the advancing the clinical understanding of using that agent against other disorders such as ME/CFS. For more information about the company, visit www.PaxMedica.com.
NOTE TO INVESTORS: The latest news and updates relating to PXMD are available in the company’s newsroom at https://ibn.fm/PXMD
About BioMedWire
BioMedWire (“BMW”) is a specialized communications platform with a focus on the latest developments in the Biotechnology (BioTech), Biomedical Sciences (BioMed)and Life Sciences sectors. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled recognition and brand awareness.
BMW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from BioMedWire, “Biotech” to 844-397-5787 (U.S. Mobile Phones Only)
For more information, please visit https://www.BioMedWire.com
Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: https://www.BioMedWire.com/Disclaimer
BioMedWire
San Francisco, CA
www.BioMedWire.com
415.949.5050 Office
Editor@BioMedWire.com
BioMedWire is powered by IBN
