Cyclacel Pharmaceuticals announces a 1-for-15 reverse stock split effective July 7, 2025, impacting all shareholders equally.
Quiver AI Summary
Cyclacel Pharmaceuticals, Inc. announced a 1-for-15 reverse stock split of its common stock, effective July 7, 2025, with trading commencing on a split-adjusted basis that day under the ticker symbol "CYCC" on The Nasdaq Capital Market. The split will reduce the number of outstanding shares from approximately 23.76 million to about 1.58 million, while maintaining the percentage ownership of shareholders, barring fractional share adjustments. The reverse split was approved by the company's board and stockholders, and a new CUSIP number will be assigned post-split. Cyclacel focuses on developing cancer medicines and is evaluating plogosertib, a PLK1 inhibitor, in clinical trials for various malignancies. The company highlighted risks associated with forward-looking statements regarding its future plans and drug development.
Potential Positives
- The implementation of a 1-for-15 reverse stock split is expected to enhance the trading price of Cyclacel's shares, potentially making them more attractive to investors.
- The reverse stock split was approved by both the Company's board of directors and stockholders, demonstrating strong internal support for corporate governance decisions.
- The move aligns with Cyclacel's strategy of maintaining compliance with Nasdaq’s continued listing requirements, supporting the company's position in the public market.
Potential Negatives
- The announcement of a 1-for-15 reverse stock split may signal to investors that the company's stock price has dropped significantly, suggesting underlying financial or operational issues.
- Implementing a reverse stock split can be perceived negatively by the market, as it is often associated with companies trying to artificially inflate their stock price to meet listing requirements, which can lead to investor skepticism.
- The need for a reverse stock split could indicate that the company is struggling to maintain its Nasdaq listing, raising concerns about its financial health and future prospects.
FAQ
What is the date of Cyclacel's reverse stock split?
Cyclacel's reverse stock split will be effective on July 7, 2025.
What is the ratio of the reverse stock split?
The reverse stock split will be implemented at a 1-for-15 ratio.
How will the reverse stock split affect shareholders?
The reverse stock split will not change shareholders' percentage interests in the Company, except for fractional shares adjustments.
What will be the new number of shares after the split?
The post-split number of shares will be 1,583,965 shares after the reverse stock split.
Where can I find more information about Cyclacel Pharmaceuticals?
Additional information can be found on Cyclacel's website at www.cyclacel.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CYCC Hedge Fund Activity
We have seen 9 institutional investors add shares of $CYCC stock to their portfolio, and 8 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC added 1,269,485 shares (+inf%) to their portfolio in Q1 2025, for an estimated $5,671,043
- SHAY CAPITAL LLC added 110,919 shares (+inf%) to their portfolio in Q1 2025, for an estimated $495,497
- CITADEL ADVISORS LLC added 51,921 shares (+inf%) to their portfolio in Q1 2025, for an estimated $231,941
- POINT72 ASSET MANAGEMENT, L.P. added 14,375 shares (+1500.5%) to their portfolio in Q1 2025, for an estimated $64,216
- ACADIAN ASSET MANAGEMENT LLC removed 14,285 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $3,988
- XTX TOPCO LTD added 14,285 shares (+inf%) to their portfolio in Q1 2025, for an estimated $3,988
- GEODE CAPITAL MANAGEMENT, LLC removed 6,913 shares (-63.9%) from their portfolio in Q1 2025, for an estimated $1,930
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
BERKELEY HEIGHTS, N.J., July 02, 2025 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; “Cyclacel” or the “Company”), a biopharmaceutical company developing innovative medicines, today announced that it expects to implement a 1-for-15 reverse stock split on its shares of common stock effective July 7, 2025, with trading to begin on a split-adjusted basis at the market open on that day. Trading in the shares of common stock will continue on The Nasdaq Capital Market under the symbol “CYCC”. The new CUSIP number for the shares of common stock following the reverse stock split is 23254L876.
Upon the effectiveness of the reverse stock split, every 15 shares of the Company’s issued and outstanding shares of common stock will automatically convert into one issued and outstanding share of common stock. No fractional shares will be issued as a result of the reverse stock split. Instead, any fractional shares that would have resulted from the split will be rounded up or down to the next whole number, as applicable. The reverse stock split affects all shareholders uniformly and will not alter any shareholder’s percentage interest in the Company’s outstanding shares of common stock, except for adjustments that may result from the treatment of fractional shares.
The reverse stock split at a ratio of 1-for-15 shares was approved by the Company’s board of directors and its stockholders. The Company will file a Certificate of Amendment with the Secretary of State of the State of Delaware to reflect the reverse stock split occurring on July 7, 2025. The pre-reverse stock split number of shares of common stock issued and outstanding is 23,759,475 shares and the post-reverse stock split number of shares of common stock issued and outstanding will be 1,583,965 shares.
About Cyclacel Pharmaceuticals, Inc.
Cyclacel is a clinical-stage, biopharmaceutical company developing innovative cancer medicines based on cell cycle, epigenetics and mitosis biology. The epigenetic/anti-mitotic program is evaluating plogosertib, a PLK1 inhibitor, in patients with both solid tumors and hematological malignancies. Cyclacel’s strategy is to build a diversified biopharmaceutical business based on a pipeline of novel drug candidates addressing oncology and hematology indications. For additional information, please visit www.cyclacel.com .
Forward-looking Statements
This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include, among other things, Cyclacel’s future plans and prospects, Cyclacel’s anticipated cash runway and the planned timing of data results and continued development of plogosertib. Factors that may cause actual results to differ materially include market and other conditions, the risk that product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later clinical trials, trials may have difficulty enrolling, Cyclacel may not obtain approval to market its product candidates, the risks associated with reliance on outside financing to meet capital requirements, the risks associated with reliance on collaborative partners for further clinical trials, development and commercialization of product candidates and Cyclacel’s ability to regain and maintain compliance with Nasdaq’s continued listing requirements, although no assurance to that effect can be given. You are urged to consider statements that include the words “may,” “will,” “would,” “could,” “should,” “believes,” “estimates,” “projects,” “potential,” “expects,” “plans,” “anticipates,” “intends,” “continues,” “forecast,” “designed,” “goal,” or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties the Company faces, please refer to our most recent Annual Report on Form 10-K and other periodic and other filings we file with the Securities and Exchange Commission and are available at www.sec.gov . Such forward-looking statements are current only as of the date they are made, and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts
Cyclacel Pharmaceuticals, Inc.
Datuk Dr. Doris Wong Sing Ee
Chief Executive Officer
Email:
[email protected]
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