By Josh Beckerman
Edesa Biotech shares were recently down 26% and fell to a 52-week low after the biopharmaceutical company announced a one-for-seven reverse stock split.
The stock was at 45 cents Tuesday and is down about 79% this year. The intraday low was 43 cents.
Edesa said shares will start trading on a post-reverse split basis when the market opens Wednesday.
On Sept. 28, Edesa reported favorable data from a Phase 2 substudy of EB05, or paridiprubart, in critically ill patients with acute respiratory distress syndrome.
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