Oxygen Biotherapeutics, a small company that moved its headquarters to Durham from California in the spring, announced that shareholders approved a reverse stock split.
The split will give every investor one share for every 15 they now own. The shares now are traded over the counter but the split will boost the stock's price to the point where it will qualify for listing on a major exchange.
Getting onto an exchange could help attract more interest from Wall Street.
Oxygen is developing products to treat various ailments and injuries by increasing the delivery of oxygen to damaged tissue.
CEO Chris Stern, who took over the company when its previous CEO died unexpectedly last year, lived in in this region and decided to shift Oxygen's headquarters to Durham. The company now employs 19 people.
Oxygen shares closed Monday at 47 cents.