02:30 PM EDT, 08/22/2024 (MT Newswires) -- Rafael Holdings ( RFL ) and Cyclo Therapeutics (CYTH) said Thursday they have struck a deal to combine to focus on the development of Trappsol Cyclo for the treatment of Niemann-Pick Disease Type C1, a rare and fatal genetic disease.

Shares of Cyclo slumped 28% as intraday trading volume jumped to over 350,000 from a daily average of roughly 57,000. Rafael ( RFL ) was up about 3.6%.

Oblong (OBLG) said it will implement a 1-for-40 reverse stock split to meet the Nasdaq Capital Market's continued listing standards. The shares will begin trading on a split-adjusted basis Aug. 26.

Shares dropped 23% as intraday trading volume rose to over 12.9 million from a daily average of about 5.84 million.

iQIYI (IQ) reported a decline in Q2 adjusted earnings and sales.

Shares sank 14% as intraday trading volume catapulted to more than 30.3 million from a daily average of about 8.25 million.

Price: 1.44, Change: +0.05, Percent Change: +3.60