Axovant Announces 1-For-8 Reverse Stock Split Axovant Sciences Ltd (NASDAQ: AXGT ) said its board and a majority of its shareholders have approved a reverse stock split in the ratio 1-for-8, which is expected to become effective in May 2019. The proposed stock split will reduce the number of outstanding common shares from 182.2 million to about 22.8 million, the company said. Axovant also announced the closing of the public offering of common shares in March for gross proceeds of $40 million. The stock slid 5.60 percent to $1.18 in after-hours trading. Vital Therapies Announces Shareholder Approval For Reverse Merger With Immunic Vital Therapies Inc (NASDAQ: VTL ) said its stockholders voted to approve the proposals to consummate the previously-announced business combination with privately-held German biotech Immunic AG at a special meeting of its shareholders held Thursday. As per an earlier agreement, boards of both companies approved the business combination, which is likely to be completed by mid-April.