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Executive Summary

GT Biopharma filed a Certificate of Amendment to effect a 1-for-25 reverse stock split and reduce authorized shares from 265M to 26.5M, effective September 8, 2026. The company also eliminated 11 series of preferred stock (none outstanding except Series C which was converted). This is a capital structure cleanup and Nasdaq compliance action for a micro-cap biotech with a $13M market cap, not a fundamental business event.

Key Facts

• 1-for-25 reverse stock split effective September 8, 2026 at 12:01 a.m. ET
• Pre-split shares: ~45,109,497 → post-split: ~1,804,379
• Authorized shares reduced from 265,000,000 to 26,500,000 (25M common + 1.5M preferred)
• 11 series of preferred stock eliminated via Certificates of Elimination (none were outstanding)
• Series C Preferred Stock converted on September 2, 2026
• New CUSIP: 36254L 407
• Board approved final ratio of 1-for-25 on August 27, 2026, following stockholder approval on August 14, 2026

Financial Impact

No financial impact — reverse split is a mechanical share consolidation with proportional adjustments to all outstanding convertible securities, warrants, and options. No new capital raised or deployed.

Risk Factors

• Post-split float of ~1.8M shares creates elevated volatility and potential for sharp moves on low volume
• Multiple active S-1 registration statements suggest potential future dilutive offerings
• Historical performance shows 0% win rate on prior GTBP reports with avg -15.28% T+20 return — model has been over-scoring this ticker

Market Snapshot

Investment Themes

Documents Analyzed

This report is based on 22 SEC documents filed with EDGAR.

US Market Status