Today, Propanc Biopharma, Inc. (OTC Pink: PPCB) announced an exciting development for its stakeholders: the board of directors has approved a reverse stock split of its common stock at a ratio of 1 post-split share for every 1,000 pre-split shares.
With this news, the biopharmaceutical company’s majority stockholder, representing the majority vote of the stockholders, has approved the move which will come into effect on May 1, 2023. This move could greatly benefit existing shareholders and provides some insight into the Company’s bullish outlook on upcoming treatments for recurrent and metastatic cancer.
On Tuesday, May 23, 2023, the Company’s common stock will begin trading on a split-adjusted basis under its new CUSIP number 74346N602. This reverse stock split was made official when the Company filed a certificate of amendment to its certificate of incorporation with the Secretary of State of the State of Delaware on May 1, 2023. Not to worry – the total amount of shares and par value of the Company’s capital stock, which includes its common stock, remain untouched.
Propanc CEO James Nathanielsz announced the Company’s goal of creating long-term shareholder value with their upcoming reverse split. The strategic move is designed to secure further funding from institutional investors to drive their lead product candidate, PRP, towards a First-In-Human study. The plans also involve expanding Propanc’s intellectual property portfolio through joint research projects with the Universities of Jaén and Granada, along with the development of a synthetic recombinant proenzyme formulation to serve as a backup clinical compound to PRP.
PRP, an intravenously injected combination of two proenzymes from bovine pancreas, has been scientifically proven to inhibit the growth of many cancerous tumors, ranging from kidney to skin cancer. The special mixture of trypsinogen and chymotrypsinogen in a 1:6 ratio is a miraculous breakthrough in the fight against the disease.
About Propanc Biopharma, Inc.
Propanc Biopharma, Inc. is developing an innovative approach to combating cancer recurrence and metastasis! Their revolutionary treatment utilizes pancreatic proenzymes to target and destroy cancer stem cells in patients with pancreatic, ovarian, and colorectal cancers. This groundbreaking technology could be a game-changer in the fight against cancer!
The Company’s innovative proenzyme therapy utilizes the science of enzymes to actively promote vital biological reactions in the body, particularly those released by the pancreas. These crucial pancreatic enzymes may present a unique, natural line of defense against cancer, making the therapy a potentially revolutionary breakthrough against this devastating disease.
Execution of our business strategy is key for the success of our reverse stock split, and we are hopeful for a positive outcome. However, we acknowledge there are certain risk factors that may affect our performance, such as our ability to protect our technology through the patent process, our capacity to secure adequate financing, our customer partnerships, competitive forces, and our ability to obtain the necessary regulatory clearances. Any of these factors could have an adverse impact on our growth and lead to unexpected results than what we anticipate.