09:44 AM EDT, 07/16/2024 (MT Newswires) -- Senti Biosciences ( SNTI ) said Tuesday that its board has authorized a 1-for-10 reverse stock split.

Shares in the biotech firm will begin trading on a split-adjusted basis at the start of trading on Thursday.

The move, which will reduce the number of outstanding shares to about 4.6 million from about 45.8 million, is intended to help Senti comply with Nasdaq's minimum price requirement rule, the company said

Shares of Senti Biosciences ( SNTI ) were down more than 7% to about $0.29 in early trading.

Price: 0.29, Change: -0.02, Percent Change: -7.88