Sunshine Biopharma Inc. (NASDAQ:SBFM) shares are trading lower in after-hours trading on Thursday.
SBFM shares fell 5.17% to $0.30 in after-hours trading after the company announced a one-for-ten reverse stock split, effective at market open on June 1, 2026.
Sunshine Biopharma is a pharmaceutical company focused on generic prescription drugs, over-the-counter supplements and the development of proprietary treatments in oncology and antiviral therapeutics.
Reverse Stock Split
The company said the reverse stock split was undertaken to regain compliance with Nasdaq’s minimum bid price requirement for continued listing.
According to the announcement, every ten shares of common stock currently outstanding will be combined into one share. The reverse split is expected to reduce the company’s issued and outstanding common shares from 21.24 million to approximately 2.12 million.
Sunshine Biopharma said the reverse stock split will take effect at the open of trading on June 1, 2026.
The company currently markets dozens of generic prescription drugs in Canada and expects to launch additional products during the remainder of 2026. Sunshine Biopharma is also advancing proprietary drug candidates, including K1.1 mRNA for liver cancer and SBFM-PL4 for SARS coronavirus infections.
Trading Analysis
Sunshine Biopharma currently has a market capitalization of approximately $5.18 million, with a 52-week high of $2.43 and a 52-week low of $0.28.
The stock is down 77.99% over the past 12 months.
Price Action: According to market data, SBFM closed Thursday’s regular trading session at $0.32. Shares later fell 5.17% in after-hours trading to $0.30.
Benzinga Edge Stock Rankings indicate that SBFM shares currently maintain negative short, medium and long-term price trends.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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