Enlivex 1-for-15 reverse split cuts float, shares dip 2.9%

Enlivex said Tuesday it will execute a 1-for-15 reverse stock split, with shares trading on a split-adjusted basis starting July 9, 2026. The move reduces the biotech's issued and outstanding ordinary shares to roughly 16.8 million from 252.5 million. The authorized share count drops to 158.3 million from 2.38 billion.

Fractional shares will be rounded up to the nearest whole share. Outstanding warrants and options will be adjusted proportionally, the company said.

Shares fell 2.94% on the day, a modest decline that suggests the market viewed the split as a technical adjustment rather than a signal of distress. Reverse splits are common among small-cap companies trading below $1, often used to meet Nasdaq's minimum bid price requirement. Enlivex did not explicitly cite a compliance need in its announcement.

The authorized share reduction is the more notable structural change. Cutting the authorized pool from 2.38 billion to 158.3 million limits the company's ability to issue new shares without shareholder approval, a constraint that existing holders may see as a positive. The outstanding count, after the split, will be roughly 16.8 million shares, a float that could support a higher per-share price and potentially attract institutional investors who avoid sub-dollar stocks.

Enlivex is a clinical-stage immunotherapy company focused on allogeneic cell therapies. Its lead candidate, Allocetra, is being studied in sepsis and other inflammatory conditions. The company has not yet generated revenue from product sales.

The reverse split takes effect before the open on July 9. Shares closed at $0.34 on Monday, implying a post-split price near $5.10, assuming no further price change before the effective date.