Monday, February 14, 2011

Sunesis Pharmaceuticals plans 1-for-6 reverse stock split

Sunesis Pharmaceuticals Inc. plans a 1-for-6 reverse stock split after the market closes on Monday.
The South San Francisco company (NASDAQ: SNSS) hopes this move will make it easier to comply with NASDAQ listing regulations about stock price. Sunesis has struggled to meet the $1 minimum bid price rule. The company also hopes the reverse split will, by raising share prices, “attract additional shareholder interest.”

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