Reverse Splits

[sludgehound]

CASC to R/S meeting Nov. 18 1-4 to 1-10

10:16 AM EDT, 10/05/2016 (MT Newswires) -- Cascadian Therapeutics (CASC) said it plans to carry out a reverse stock split to increase its share price and reduce the number of authorized and outstanding shares.
"We believe this proposed change will make our stock accessible to a wider range of institutional investors, benefiting all stockholders," Scott Myers, chief executive of the company developing breast cancer drug tucatinib, said in statement on Wednesday.
The reverse stock split ratio is proposed at no less than 1-for-4 and not greater than 1-for-10, according to the statement. Cascadian plans to hold a special shareholders' meeting on Nov. 18 to obtain approval of the reverse split, it said.
The shares fell 8.2% in early trading on Wednesday.
Price: 1.54, Change: -0.14, Percent Change: -8.18
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