Virax Biolabs Stock Faces a Make-or-Break Nasdaq Vote After a Wild Week
Virax Biolabs Group heads into the Memorial Day break with a Nasdaq listing fix in front of investors: a June 5 shareholder vote on a reverse share consolidation after another week of heavy, uneven trading in the micro-cap diagnostics stock. The plan would combine every 10 to 30 shares into one share, a move usually meant to lift the per-share price without changing an investor’s proportional stake. The timing is tight. Virax said in its May 22 filing that Nasdaq gave it until July 11 to regain compliance with the exchange’s $1 minimum bid rule, meaning the shares must close at or above $1 for at least 10 straight business days. The company said that without shareholder approval, or without