GENSIA ANNOUNCES THREE-FOR-TWO STOCK SPLIT
GENSIA ANNOUNCES THREE-FOR-TWO STOCK SPLIT SAN DIEGO, Jan. 31 /PRNewswire/ -- Gensia Pharmaceuticals Inc.
(NASDAQ: GNSA) today announced a three-for-two stock split in the form of a stock dividend, payable to stockholders of record as of Feb. 10, 1992.
Gensia stockholders of record at the close of business on Feb. 10, 1992 will receive certificates representing one additional share for each two shares of common stock held at that time. The additional shares are expected to be delivered to eligible shareholders on or about March 2, 1992. Fractional shares will be paid in cash based on the closing price of Gensia common stock on the record date. According to David F. Hale, Gensia chairman, president and chief executive officer, "We view this stock split as the proper step to take at this time toward establishing a broader market in Gensia common stock." Gensia Pharmaceuticals is a San Diego-based biopharmaceutical company formed to discover, develop, manufacture and market novel pharmaceutical products for the treatment and diagnosis of human diseases. Gensia currently has two cardiovascular drugs in late-stage clinical trials, Arasine (TM) and arbutamine, part of the GenESA (TM) System. -0- 1/31/92 /CONTACT: David F. Hale and Martha L. Hough of Gensia Pharmaceuticals Inc., 619-546-8300/ (GNSA) CO: Gensia Pharmaceuticals ST: California IN: MTC SU:
DM-EH -- SD001 -- 5501 01/31/92 09:15 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Jan 31, 1992|
|Previous Article:||SURETY CAPITAL CORPORATION ANNOUNCES ANNUAL RESULTS|
|Next Article:||VIKONICS ANNOUNCES KUWAIT DISTRIBUTION AGREEMENT|