Nexell Completes Split; Shares Dip

Nexell Therapeutics Inc. completed a 1-for-4 reverse stock split Thursday. Shares of the Irvine company closed at $12.88, down $2.38, in Nasdaq trading.

Shareholders approved a decrease in the number of common shares to 80 million from 160 million.

Nexell, which develops and markets cell therapies for cancer and other diseases, has 18.75 million shares of common stock outstanding.