01:03 PM EDT, 07/02/2024 (MT Newswires) -- Phio Pharmaceuticals ( PHIO ) said Tuesday its board has approved a 1-for-9 reverse stock split to help comply with the minimum $1 bid price requirement for continued listing on the Nasdaq Capital Market.

The company said its shares will open for trading on a post-split basis on July 5.

Shares of Phio Pharmaceuticals ( PHIO ) were down around 5% in recent trading.

Price: 0.64, Change: -0.03, Percent Change: -5.09