10:38 AM EDT, 05/22/2024 (MT Newswires) -- Tharimmune ( THAR ) said Wednesday it will implement a 1-for-15 reverse stock split after the close of trading on Nasdaq on Friday.

The company said its shares will trade on a post-split basis under their current ticker symbol when the market opens on Tuesday.

The reverse stock split mainly aims to bring Tharimmune ( THAR ) into compliance with Nasdaq's $1 per share minimum bid price rule for continued listing, the company said.

Tharimmune ( THAR ) shares retreated by nearly 11% in recent trading.

Price: 0.35, Change: -0.04, Percent Change: -11.42