Chromocell Therapeutics Corporation (NYSE: CHRO) said on Thursday that its Board of Directors had authorized an amendment to the company’s existing stock repurchase plan.
Under the amendment, the total value of shares of common stock available for repurchase has been increased by additional $500,000 to $750,000.
The termination date of the repurchase plan has also been extended – from December 31st 2024 to June 30th 2025.
“The increased ability to repurchase up to another $500,000 in shares of Chromocell’s common stock – in addition to the $250,000 previously available for repurchase under the repurchase plan – is the result of our continued belief that our common stock is undervalued, and we consider our common stock an attractive investment at the current price,” Frank Knuettel, Chief Executive Officer and President, said in a press release.
Stock Performance
The shares of Chromocell Therapeutics Corporation (CHRO) closed 13.10% ($0.0880) higher at $0.7600 in New York on Thursday, as they snapped a two-day streak of losses.
The company’s total market cap now stands at $4.383 million.
The shares of Chromocell Therapeutics Corporation (CHRO) have retreated 87.33% so far this year.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
