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The case for GTBP's September 2 filing is a clean capital structure: eleven preferred series eliminated from the Delaware charter, one class of common stock remaining, and an authorized share count reset.
What complicates it is the denominator the board chose. A 1-for-25 reverse split takes GT Biopharma, Inc.
(Nasdaq: GTBP) from approximately 45,109,497 shares outstanding to approximately 1,804,379 shares, and the board picked that ratio at the aggressive end of the range stockholders had approved.
Preferred stock stripped from the charter On September 2, 2026, GT Biopharma filed Certificates of Elimination with the Secretary of State of the State of Delaware, removing all matters set forth in the Certificates of Designations for eleven preferred series: A, B, C, D, E, F, G, H, I, J-1, and K.
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