NEXGEL puts 1-for-20 reverse stock split into effect

what happened

GlobeNewswire reported that NEXGEL, Inc. (NASDAQ: NXGL) began split-adjusted trading on The Nasdaq Capital Market on October 12, 2026, following a 1-for-20 reverse split of its common stock. The shares continue to trade under the symbol NXGL and have been assigned new CUSIP number 65344E 206.

The transaction became effective at 12:01 a.m. Eastern Time after stockholders approved it at a special meeting on September 23, 2026, and the board later approved the ratio. Every 20 outstanding shares were automatically combined into one, without action by stockholders. Shares outstanding fell from 9,747,663 as of October 9, 2026, to approximately 487,384, before rounding fractional shares.

NEXGEL said the split is intended to raise the per-share trading price and help it regain compliance with Nasdaq’s $1 minimum bid price requirement for continued listing. The company gave no assurance that compliance will be restored or maintained. No fractional shares will be issued; holders otherwise entitled to one will receive a whole share instead. Proportional changes will also apply to equity awards, warrants and other convertible or exercisable securities. The authorized share count and the $0.001 par value were unchanged.

why it matters

A reverse split reduces the number of shares outstanding and mechanically increases the quoted price per share, while not directly changing the holder’s aggregate position at the time of the transaction. For NXGL, Nasdaq compliance remains the key issue.

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