Thursday, June 2, 2011

Poniard asks shareholders to OK big reverse stock split

Cancer drug developer Poniard Pharmaceuticals Inc., which is studying a possible sale, will ask shareholders to give its board authority for a reverse stock split between 1-for-15 and 1-for-25 shares.
If the proposal is not passed, San Francisco-based Poniard (NASDAQ: PARD) has warned shareholders, the company could be delisted from the NASDAQ exchange.

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