Sonnet BioTherapeutics Holdings, Inc. SONN shares are trading lower by 36.9% to $1.72 during Monday's trading session after the company announced a 1-for-14 reverse stock split.
Sonnet BioTherapeutics says the reverse stock split is intended to increase the per share trading price of Sonnet's common stock to satisfy the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market (Rule 5550(a)(2)).
This split is effective for trading purposes as of Monday's session.
According to data from Benzinga Pro, Sonnet BioTherapeutics has a 52-week high of $2.29 and a 52-week low of $0.19.
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