Procept (PRCT): 50% rise on high volume. Why? Message Board

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Biotech / Medical : Procept (PRCT): 50% rise on high volume. Why?

PRCT 31.91

+1.9%

Nov 7 9:30 AM EST

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To: Douglas who wrote (260)	10/8/1997 8:24:00 AM
From: Douglas	of 455

Procept Inc Declares 1-For-7 Reverse Stock Split CAMBRIDGE, Mass. (Dow Jones)--Procept Inc. (PRCT) declared a 1-for-7 reverse stock split, effective Oct. 14. In a press release Wednesday, the company said it will have 2 million shares outstanding after the reverse split. Procept also said its series A preferred shares will be convertible into about 2.7 million common shares. Procept develops therapies to treat immune system disorders. A spokeswoman for Procept said the company effected the reverse split to comply with a recent change in Nasdaq trading regulations related to minimum stock price. Shares of Procept closed Tuesday at 5/16.

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