22 June 2023
Biodexa Pharmaceuticals
PLC(“Biodexa” or the “Company”)
ADR Ratio Change
Biodexa Pharmaceuticals PLC (Nasdaq: BDRX), a
clinical-stage biopharmaceutical company developing a pipeline of
products aimed at primary and metastatic cancers of the brain,
announces a ratio change on its American Depositary Receipts
(“ADR”) from one (1) ADR representing five (5) ordinary shares, to
the new ratio of one (1) ADR representing four hundred (400)
ordinary shares (the "Ratio Change"). The effective date of the
Ratio Change is expected to be 5 July 2023.
Pursuant to the Ratio Change, effective 5 July
2023, ADR holders will be required on a mandatory basis to
surrender their ADRs for cancellation and exchange to receive one
(1) new ADR (New CUSIP: 59564R708) for every eighty (80) old ADRs
(Old CUSIP: 59564R609). No fractional ADRs will be allocated. The
aggregate fractions, if any, will be sold and the net proceeds will
be distributed to the entitled ADR holder. The Company's
Depositary, The Bank of New York Mellon, will contact ADR holders
and arrange for the exchange of their existing ADRs for new
ADRs.
For ADR holders, the Ratio Change will have the
same effect as a one-for-eighty reverse ADR split. The ordinary
shares of Midatech will not be affected by this change.
The Ratio Change is aimed to bring the price of
the Company’s ADRs into compliance with the
Nasdaq $1.00 minimum bid price per share requirement,
though Midatech can give no assurance that the Ratio Change will be
effective in achieving this goal.
Biodexa Pharmaceuticals PLC |
Stephen Stamp, CEO, CFO |
Tel: +44 (0)29 2048 0180 |
www.biodexapharma.com |
|
Edison Group (US Investor Relations) Alyssa Factor
Tel: +1 (860) 573 9637 Email: afactor@edisongroup.com |
|
About Biodexa Pharmaceuticals
PLC
Biodexa Pharmaceuticals PLC (listed on NASDAQ:
BDRX) is a clinical stage biopharmaceutical company developing a
pipeline of products aimed at primary and metastatic cancers of the
brain. The Company’s lead candidate, MTX110, is being studied
in aggressive rare/orphan brain cancer indications including
recurrent glioblastoma and diffuse midline glioma.
MTX110 is a liquid formulation of the histone
deacetylase (HDAC) inhibitor, panobinostat. This proprietary
formulation enables delivery of the product via convection-enhanced
delivery (CED) at potentially chemotherapeutic doses directly to
the site of the tumour, by-passing the blood-brain barrier and
avoiding systemic toxicity.
Biodexa is supported by three proprietary drug
delivery technologies focused on improving the bio-delivery and
bio-distribution of medicines. Biodexa’s headquarters and
R&D facility is in Cardiff, UK. For more information
visit www.biodexapharma.com.
Forward-Looking Statements
Certain statements in this announcement may
constitute “forward-looking statements” within the meaning of
legislation in the United Kingdom and/or United States. Such
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and may include,
but are not limited to, statements expressed or implied regarding
our ability to regain compliance with Nasdaq’s minimum bid price
per share requirement. Any forward-looking statements are based on
currently available competitive, financial and economic data
together with management's views and assumptions regarding future
events and business performance as of the time the statements are
made and are subject to risks and uncertainties. We wish to caution
you that there are some known and unknown factors that could cause
actual results to differ materially from any future results,
performance or achievements expressed or implied by such
forward-looking statements. All statements contained in this
announcement that do not relate to matters of historical fact
should be considered forward-looking statements.
Reference should be made to those documents that
Biodexa shall file from time to time or announcements that may be
made by Biodexa in accordance with the rules and regulations
promulgated by the SEC, which contain and identify other important
factors that could cause actual results to differ materially from
those contained in any projections or forward-looking
statements. These forward-looking statements speak only as of
the date of this announcement. All subsequent written and
oral forward-looking statements by or concerning Biodexa are
expressly qualified in their entirety by the cautionary statements
above. Except as may be required under relevant laws in the
United States, Biodexa does not undertake any obligation to
publicly update or revise any forward-looking statements because of
new information, future events or events otherwise arising.
Biodexa Pharmaceuticals (NASDAQ:BDRX)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Biodexa Pharmaceuticals (NASDAQ:BDRX)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024