RS could do just that, see recent events by small Canadian biotech IMV Inc.

Like them, I think we would need to get to at least ~$2.00 on our own "organically", then propose RS 3 or 4:1, to get to $6-8 (#shares reduced to ~ 75-100M).  Of course, will need some $ for this as well.  So far, this appears to be working for IMV as their share price has climbed post RS in anticipation of their Nasdaq listing, we'll see what happens.