MONTGOMERYVILLE, Pa.--(BUSINESS WIRE)--PhotoMedex, Inc. (Nasdaq:PHMD) announced today the effectiveness of the reverse split of its common stock in the ratio of 1-for-7. The Company’s common stock will begin trading at the market opening on January 27, 2009 on a split-adjusted basis under the symbol PHMDD for a period of 20 business days, or February 25, 2008, at which time the stock symbol will revert back to PHMD. The reverse split is intended to enable the Company to increase its marketability to institutional investors and to maintain its listing on the Nasdaq Global Market, among other benefits. As a result of the stock split, the Company now has 9,004,601 shares outstanding.
