Honolulu-based biopharmaceutical company Cardax Inc., which produces the anti-inflammatory product ZanthoSyn, declared Tuesday a 200-for-1 reverse stock split that will be effective today.

Cardax’s stock finished the day down $.005 at 4.75 cents. The reverse split will boost the company’s stock price to $9.50. However, the reverse split doesn’t change the value of an investor’s holdings. It just means that a shareholder will receive one share for every 200 shares owned. Or in other words, 200 shares worth 4.75 cents apiece will be converted to one share at $9.50.

Cardax’s stock trades under the ticker symbol CDXI on the OTCQB, which consists of early-stage and developing U.S. and international companies. Cardax’s shares fell 74.6% in 2019 after hitting a 52-week high of 22 cents. Its share are down 6.4% so far this year.

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