Why Athersys Stock Is Falling 20% Friday

Athersys Inc ATHX shares are trading lower by 19.45% to $0.14 Friday morning after the company announced it will be executing a 1-for-25 reverse stock split.

What Else?

Athersys says common stock will begin trading on a split-adjusted basis when the market opens on Monday, August 29th.

The reverse stock split was previously approved by Athersys stockholders at the annual meeting of stockholders held on July 28th with the final ratio determined by the Company's Board of Directors.

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According to data from Benzinga Pro, Athersys has a 52-week high of $1.81 and a 52-week low of $0.17.