10:54 AM EDT, 06/03/2024 (MT Newswires) -- CNS Pharmaceuticals ( CNSP ) was falling hard in Monday trading, losing about one-third of its prior value, after the biopharmaceutical company plans a 1-for-50 reverse split of its common stock one minute following the close of Tuesday's regular trading session.

The stock will trade on a split-adjusted basis starting Wednesday. The company said the reverse split is largely intended to increase its per-share price above Nasdaq's $1 minimum threshold.

Price: 0.14, Change: -0.07, Percent Change: -33.35