MetaVia Inc. is trading 20.7% down at $1.76 in pre-market, extending a sharp slide after stockholders approved a reverse stock split and an expanded equity incentive plan on June 8.
- The approved measures have fueled investor concerns regarding potential share dilution and the company's long-term balance-sheet strength.
- Selling pressure that emerged during the previous regular and after-hours sessions is continuing to drive the stock lower in early pre-market trading.