Not sure 100% sure as to what will happen tomorrow but have somewhat of an idea.
Historically speaking, for small biotechs, a reverse split will cause about a 25% decrease in pps. However with ZLCS there are rumors (on this board) that institutions are seeking to take a position prior to news that will be announced sometime this quarter.
If the rumors are in fact true, we will see a hit in pps but once a base is formed we should see a steady rise to current levels prior to PH II results.
The above is a good possibility only if the rumors are valid.
Now if there's a raise done prior to news, then that's a whole different story, which you guys should know the ending to.