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T2 Bio backs away from reverse stock split

Aug. 05, 2020 8:53 AM ETT2 Biosystems, Inc. (TTOO) StockTTOOBy: Niloofer Shaikh, SA News Editor5 Comments
  • The Board of Directors of T2 Biosystems (NASDAQ:TTOO) has decided not to seek authority from the stockholders at the 2020 AGM to effect a reverse split of its outstanding common shares of common stock and therefore Proposal No. 1 in the Definitive Proxy Statement filed with SEC has been withdrawn from the agenda.
  • The decision was made taking into consideration trading history, Nasdaq compliance and the results of meetings with the members of the investment community.
  • Shares up 9% premarket.

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