11:47 AM EDT, 06/06/2024 (MT Newswires) -- Tonix Pharmaceuticals Holding ( TNXP ) said Thursday it will implement a 1-for-32 reverse stock split, effective at the start of trading on Monday.

The company said the reverse split aims to increase price of its common stock to meet Nasdaq's $1 minimum bid price requirement.

Shares of Tonix Pharmaceuticals ( TNXP ) retreated more than 25% in recent trading.

Price: 0.12, Change: -0.04, Percent Change: -23.74