Scorpius Holdings Cancels Planned Reverse Stock Split

Rhea-AI Summary

Scorpius Holdings (NYSE American: SCPX) has announced the cancellation of its previously planned 1-for-20 reverse stock split of common stock. The company, which operates as an integrated contract development and manufacturing organization (CDMO), specializes in advancing biologic programs through its facilities in San Antonio, TX.

The company provides analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies. Scorpius emphasizes transparent collaboration and flexible, high-quality biologics biomanufacturing through its purpose-built U.S. facilities and experienced team.

Positive

• None.

Negative

• Cancellation of planned reverse stock split may indicate inability to meet stock price requirements
• Potential risk of non-compliance with NYSE American listing standards

News Market Reaction – SCPX

-1.86%

1 alert

-1.86% News Effect

On the day this news was published, SCPX declined 1.86%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

DURHAM, N.C., Jan. 17, 2025 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc (NYSE American: SCPX) (“Scorpius” or “the Company”), an integrated contract development and manufacturing organization (“CDMO”), today announced that the Company’s planned 1-for-20 reverse stock split (the “Reverse Stock Split”) of its common stock (the “Common Stock”) that was announced yesterday, will not be effectuated.

Scorpius Holdings, Inc.

Scorpius Holdings, Inc. is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, TX. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit www.scorpiusbiologics.com.

Media and Investor Relations Contact
David Waldman
+1 919 289 4017
ir@scorpiusbiologics.com

FAQ

Why did Scorpius Holdings (SCPX) cancel its reverse stock split?

The press release does not specify the reason for canceling the previously announced 1-for-20 reverse stock split.

What was the planned reverse split ratio for SCPX stock?

Scorpius Holdings had planned a 1-for-20 reverse stock split of its common stock before canceling it.

How might the cancellation of SCPX's reverse split affect shareholders?

The cancellation could potentially impact shareholders as reverse splits are often implemented to maintain exchange listing requirements or improve stock marketability.

What services does Scorpius Holdings (SCPX) offer as a CDMO?

Scorpius Holdings offers analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies through its facilities in San Antonio, TX.