SILVER SPRING, Md., Sept. 1 /PRNewswire-FirstCall/ -- United Therapeutics Corporation (Nasdaq: UTHR) announced today that its Board of Directors has approved and declared a stock split. The stock split will be effected in the form of a stock dividend, in which one share of United Therapeutics common stock will be distributed for each share of common stock issued and outstanding (or held in treasury) at the close of business on the record date, September 14, 2009. The additional shares of common stock are scheduled to be distributed on September 22, 2009, to all shareholders of record by BNY Mellon, United Therapeutics' transfer agent. United Therapeutics expects that its common stock will begin to trade on the NASDAQ Global Select Market on a split-adjusted basis beginning on September 23, 2009.
"Just as the recent approval of our new medicine, Tyvaso, has provided doctors and patients with a 2-for-1 therapeutic opportunity, by having both inhaled and parenteral forms of treprostinil to prescribe, today's announcement provides shareholders with a 2-for-1 investment opportunity, by doubling the number of outstanding shares from approximately 27 million to 54 million," said Martine Rothblatt, Ph.D., United Therapeutics' Chairman and Chief Executive Officer. "Even with this split, our number of outstanding shares is still well below that of other similar stage biotechnology companies."
About United Therapeutics
United Therapeutics is a biotechnology company focused on the development and commercialization of unique products to address the unmet medical needs of patients with chronic and life-threatening cardiovascular and infectious diseases and cancer.
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