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Biostage combines stock 20:1 to satisfy $4M private investor

In order to complete a $4-million deal with a private investor and save the company from insolvency, Holliston biotech Biostage has performed a 20:1 reverse stock split. 
The reverse stock split reduced the number of Biostage shares from 39.8 million to 2 million. As a result of having fewer shares on the market, the company's stock price went up from 6.6 cents per share to 91 cents when the markets closed on Tuesday. 
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