08:46 AM EDT, 07/12/2024 (MT Newswires) -- Alzamend Neuro ( ALZN ) said Friday that its board approved a 1-for-10 reverse stock split that will take effect in the state of Delaware on July 16.

The company said its common stock will start trading on the Nasdaq Capital Market on a split-adjusted basis under its current trading symbol ALZN when markets open Tuesday.

Alzamend Neuro ( ALZN ) said the reverse stock split is part of its plan to regain compliance with the Nasdaq's $1 per share minimum bid price requirement for continued listing on the exchange.