Aug. 27 at 11:35 AM
$CYCN Shareholders approved the Korsana Biosciences merger, the related Nasdaq share issuance/change of control, an increase in authorized common shares from 400 million to 700 million, and a reverse split. The Board then set the reverse split at 1-for-7, expected to reduce outstanding shares from about 4.7 million to roughly 0.7 million before closing. Following the merger, Cyclerion will be renamed Korsana Biosciences, Inc. and is expected to begin Nasdaq trading under KRSA on September 9, 2026. Shareholders did not approve the Cayman redomestication, so the combined company will remain a Massachusetts corporation; that failure does not block the merger.
