Did PaxMedica change its name?
Yes, Phillips Edison & Company, Inc. (PECO) executed a one-for-three reverse stock split of its common stock on July 2, 2021. This action was approved by the company's board of directors and stockholders in June 2021. Concurrent with the reverse split, the company reclassified its stock, converting each outstanding share into a share of Class B common stock. This move was intended to reduce the total number of outstanding shares proportionally without creating an economic impact on stockholders, as all shares were impacted equally by the reduction in count.
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CBL-514 is not currently available for commercial sale or general prescription use, as it remains an investigational drug undergoing clinical development.