NEW YORK, May 25, 2023 (GLOBE NEWSWIRE) — Landos Biopharma, Inc. LABP, a clinical-stage biopharmaceutical company developing novel, oral medicines for patients with autoimmune diseases, today announced that it will effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-10, to be effective as of 5:00 p.m. Eastern Time today, May 25, 2023.
The Company’s common stock will begin trading on a split-adjusted basis when the market opens on May 26, 2023 under the existing trading symbol “LABP.” As a result of the reverse stock split, the CUSIP number for the Company’s common stock will now be 515069201. The reverse stock split was previously approved by the stockholders of the Company at the annual meeting of stockholders held on May 23, 2023 to regain compliance with Nasdaq’s minimum bid price requirement of $1.00 per share of common stock.
About Landos Biopharma
Landos Biopharma is a clinical stage biopharmaceutical company focused on the development of first-in-class, oral therapeutics for patients with autoimmune diseases. Our mission is to create safer and more effective treatments that address the therapeutic gap in the current treatment paradigm.
We have a portfolio of novel targets anchoring two libraries of immunometabolic modulation pathways, including four potentially first-in-class, once-daily, oral therapies targeting eight indications in the immunology space.
We are currently focused on advancing the clinical development of NX-13 in UC. We initiated our NEXUS Phase 2 proof-of-concept trial in April 2023 and expect to report topline results by the fourth quarter of 2024.
For more information, please visit www.landosbiopharma.com.
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Statements in this press release about future expectations, plans and prospects for Landos Biopharma, Inc. (the “Company”), including statements about the Company’s strategy, clinical development and regulatory plans for its product candidates,…