GERMANTOWN, Md., July 16, 2019 /PRNewswire/ -- Neuralstem,
Inc. (Nasdaq: CUR), a biopharmaceutical company focused on
developing novel treatments for nervous system diseases, today
announced a reverse stock split of its shares of common stock at a
ratio of 1-for-20. The reverse stock split will become effective on
Wednesday, July 17, 2019 after market
close and shares of Neuralstem Inc. common stock will trade on a
post-split basis on the Nasdaq Capital Market under the Company's
existing trading symbol, "CUR," at the market open on Thursday, July 18, 2019.
The reverse stock split enables Neuralstem to regain compliance
with the $1.00 minimum bid price condition of the NASDAQ
Capital Market continued listing requirements.
At the effect time of the reverse stock split, every twenty (20)
shares of Neuralstem common stock will be combined into one (1)
share of common stock. This will reduce the Company's issued
and outstanding common stock from 21,337,491 shares to
approximately 1,066,875 shares. Fractional shares will be rounded
up to the nearest whole share and proportional adjustments will be
made to the Company's outstanding stock options, warrants and
equity incentive plans. The reverse stock split will not materially
affect any stockholder's ownership percentage of the Company's
common stock.
Additional information regarding Neuralstem Inc.'s reverse stock
split is available in the definitive proxy statement, filed on
April 29, 2019, and the Current
Report on Form 8-K to be filed on July 17,
2019 with the U.S. Securities and Exchange Commission.
About Neuralstem
Neuralstem is a clinical-stage biopharmaceutical company
developing novel treatments for nervous system diseases of high
unmet medical need. The Company has two lead development
candidates:
- NSI-566 is a stem cell therapy being tested for treatment of
paralysis in stroke, Amyotrophic Lateral Sclerosis (ALS) and
chronic spinal cord injury (cSCI)
- NSI-189, is a small molecule in clinical development for major
depressive disorder and in preclinical development for Angelman
syndrome, irradiation-induced cognitive impairment, diabetic
neuropathy, and stroke
Neuralstem's diversified portfolio of product candidates is
based on its proprietary neural stem cell technology.
Cautionary Statement Regarding Forward Looking
Information
This news release contains "forward-looking statements"
made pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements relate to future, not past, events and may often be
identified by words such as "expect," "anticipate," "intend,"
"plan," "believe," "seek" or "will." Forward-looking statements by
their nature address matters that are, to different degrees,
uncertain. Specific risks and uncertainties that could cause our
actual results to differ materially from those expressed in our
forward-looking statements include risks inherent in the
development and commercialization of potential products,
uncertainty of clinical trial results or regulatory approvals or
clearances, need for future capital, dependence upon collaborators
and maintenance of our intellectual property rights. Actual results
may differ materially from the results anticipated in these
forward-looking statements. Additional information on potential
factors that could affect our results and other risks and
uncertainties are detailed from time to time in Neuralstem's
periodic reports, including the Annual Report on Form 10-K for the
year ended December 31, 2018 filed
with the Securities and Exchange Commission (SEC), and in other
reports filed with the SEC. We do not assume any obligation to
update any forward-looking statements.
Contact:
Josh Barer
Hibiscus BioVentures
josh@hibiscusbio.com
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SOURCE Neuralstem, Inc.