09:29 AM EDT, 06/27/2024 (MT Newswires) -- Dare Bioscience ( DARE ) said Thursday it will implement a 1-for-12 reverse split on July 1 to regain compliance with Nasdaq's minimum bid price requirement for continued listing.

The reverse stock split will reduce the number of the company's outstanding shares to about 8.4 million from about 101.1 million.

The company said it expects its shares to trade on a split-adjusted basis from July 1.

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