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Peregrine to begin reverse stock split Monday
AP ONLINE
posted: 40 DAYS 4 HOURS AGO
TUSTIN, Calif. (AP) — Peregrine Pharmaceuticals said Friday its previously announced stock split will take place Monday, Oct. 19.
The company's one-for-five split will reduce the number of shares outstanding while increasing each share's price proportionally.
Peregrine said its shares will trade under the symbol "PPHM," with the letter "D'' added to the end of the trading symbol for 20 days to indicate the reverse stock split has occurred. The symbol will change back to its original symbol "PPHM" on Nov. 16, 2009.
Shares of Peregrine Pharmaceuticals Inc. fell 1 cent to close at 64 cents Friday.
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