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CASI Pharmaceuticals stock falls after reverse split takes effect

·1 min read
CASI Pharmaceuticals stock falls after reverse split takes effect
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Shares of CASI Pharmaceuticals Inc. are actually falling in premarket trading Thursday, as a 1-for-10 reverse stock split took effect. While some quote services may still be showing a big gain for the Maryland-based biopharmaceutical company's stock, closed Wednesday at a pre-split price of 40.63 cents, meaning a 1-for-10 reverse split would adjust the price to $4.063. The stock is currently trading 15.6% below that split-adjusted price. On a pre-split basis, the stock has closed below $1 since