(CercleFinance.com) — Pharnext announced, Wednesday, that it has finished consolidating its shares at a rate of one new share for 5,000 old shares, in a process aimed at reducing the volatility of its share price and enhancing its stability.
The biopharmaceutical company, which is currently developing a treatment for Charcot-Marie-Tooth disease type 1A (CMT1A), said it terminated exchanges yesterday, the date of the last quotation for the old shares.
So the first quote of the new shares takes place today: at around 10:50 am the title lost 22% to €0.39.