Sutro Biopharma, Inc. (STRO) has approved a 1-for-10 reverse stock split of its common stock to reduce shares from 85,193,912 to 8,519,392 and regain compliance with Nasdaq’s minimum bid price requirement of $1 per share. The reverse stock split will be effective on December 3, with trading starting on a post-reverse split basis the same day under the symbol STRO. Pre-market activity shows STRO shares trading at $0.85, down 7.41% on the Nasdaq.

Read more at Nasdaq: Sutro Biopharma Sets 1-for-10 Reverse Stock Split