Gyre Therapeutics Inc. is trading 5.2% up at $6.12 following stockholder approval for the conversion of Series B Convertible Preferred Stock into common shares.
- The approval clarifies the company's equity structure under Nasdaq rules, addressing key governance and capital-structure requirements.
- The stock is bouncing from recent weakness as the move improves investor sentiment despite a flat-to-mixed broader market backdrop.
- The conversion was officially approved at the June 10, 2026, annual meeting and disclosed in a filing on June 16, 2026.