Predictive Oncology Shares Tumble 19% On Reverse Stock Split Announcement – More Details Inside
The reverse stock split is primarily intended to bring the company into compliance with Nasdaq’s minimum bid requirement for continued listing on the exchange.
Shares of Predictive Oncology Inc. (POAI) tumbled 19% on Thursday after the company announced that it will effect a 1-for-15 reverse stock split of its issued and outstanding shares of common stock.
The reverse stock split will become effective at 12:01 a.m. on Tuesday, September 30, the company said. The reverse stock split is primarily aimed at bringing the company into compliance with Nasdaq’s minimum bid requirement for continued listing on the bourse.
At the effective time of the reverse stock split, every 15 shares of Predictive Oncology’s issued and outstanding common stock will be combined automatically into one share of common stock. While the company currently has over 11.4 million shares of common stock, it will be reduced to about 762,000 after the split, the firm added.
On Stocktwits, retail sentiment around POAI stock stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume stayed at ‘extremely high’ levels.
A Stocktwits user opined that the stock will fall below $0.50 before the reverse stock split becomes effective.
Predictive Oncology is an AI-driven drug development and discovery company. For the second quarter, the company reported diluted loss per common share of $0.22. The company ended the quarter with $506,078 in cash and cash equivalents, compared to $611,822 as of December 31, 2024, and a stockholders’ deficit of approximately $1.7 million.
POAI stock is up 17% this year and approximately 22% over the past 12 months.
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