PolyMedix Inc., a struggling Radnor biotech firm that has been considering strategic alternatives that may include a sale of the company, announced a plan for a reverse stock split to increase the per-share price of its common stock.
Share are currently traded over the counter, and the company said it's goal would be to list on the Nasdaq.
The company called a shareholder meeting for March 15 to vote on the proposal.
PolyMedix, which is developing a treatment for skin infections, in January replaced then-CEO Nicholas Landekic with CFO Edward F. Smith as interim chief executive. Shares have traded in a range of 6 cents to $1.39 over the last year. They were down 1 cent, to 10 cents, in afternoon trading.