Yardley-based Optinose will enact a 1-for-15 reverse stock split to boost its share price and fend off a potential NASDAQ delisting, writes Ryan Mulligan for the Philadelphia Business Journal.

The pharmaceutical company received a notice from NASDAQ two months ago indicating that it could be delisted from the public market after its stock closed below $1 for the 30 business days leading up to October 16.

The company’s stock opened at 36 cents per share on December 26, 81 percent below its 2024 high of $1.94 on March 18.

The firm received shareholder approval earlier this week to implement the reverse stock split on December 30. This move will consolidate the company’s shares into a smaller number of proportionally more valuable ones.

The number of Optinose’s shares of common stock will go down from around 151 million to a little over 10 million.

Based on the December 26 opening stock price, the move would increase the company’s share value to $5.40 per share.

The firm has until April 15 to raise its stock price above $1 for at least ten consecutive business days to meet NASDAQ’s requirements.

Read more about Optinose reverse stock split decision in the Philadelphia Business Journal.

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