Genelabs to reverse split stock on Dec. 19

New York, Dec. 6 - Genelabs Technologies, Inc. said its board of directors has approved a one-for-five reverse stock split. The change will take effect on Dec. 19.

The reverse split was previously given the go ahead by shareholders at the company's annual shareholder meeting on June 14.

For 20 trading days beginning Dec. 19, Genelabs' stock will trade under the interim symbol "GNLBD" before reverting to "GNLB."

The Redwood City, Calif., biopharmaceutical company said the reverse split is intended to broaden Genelabs' investor base and help its regain compliance with Nasdaq's $1.00 minimum bid price listing requirement.

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