Cyclacel Pharmaceuticals announces a 1-for-16 reverse stock split effective May 12, 2025, impacting all shareholders uniformly.
Quiver AI Summary
Cyclacel Pharmaceuticals, Inc. has announced a 1-for-16 reverse stock split of its common stock, effective May 12, 2025, with trading beginning on a split-adjusted basis that day on The Nasdaq Capital Market under the symbol "CYCC." After the split, shareholders will see their shares reduced from approximately 356 million to about 22 million, while their overall percentage ownership will remain unchanged, barring adjustments from fractional shares, which will be rounded. The company, focused on innovative medicines for cancer treatment, continues to develop its lead compound, plogosertib, and will file necessary documentation to officially implement the split. Cyclacel also issued a forward-looking statement warning of risks and uncertainties that may affect its future results and compliance with regulatory requirements.
Potential Positives
- Implementation of a 1-for-16 reverse stock split is expected, which can help increase the stock price and improve market perception of the company's shares.
- The reverse stock split is approved by both the Company's board of directors and stockholders, indicating strong support from leadership and investors.
- Trading will continue on The Nasdaq Capital Market, ensuring liquidity and visibility for investors.
- The adjusted number of shares from 356,357,531 to 22,272,346 may simplify the share structure and make the stock more appealing to institutional investors.
Potential Negatives
- The announcement of a 1-for-16 reverse stock split may signal to investors that the company's stock price is struggling, potentially indicating underlying financial or operational issues.
- Shareholder value could be affected as reverse stock splits are often seen as a last resort to maintain compliance with stock exchange listing standards.
- The press release does not provide concrete updates or assurances about the progress of drug development or financial health, which may raise concerns among investors regarding the company's future prospects.
FAQ
What is the date of the reverse stock split for Cyclacel Pharmaceuticals?
The reverse stock split will be effective on May 12, 2025.
What is the ratio of the reverse stock split announced by Cyclacel?
Cyclacel announced a 1-for-16 reverse stock split ratio.
Will shareholders receive fractional shares after the reverse stock split?
No fractional shares will be issued; they will be rounded to the nearest whole number.
How will the reverse stock split affect existing shareholders?
The reverse stock split will not alter shareholders' percentage interest, except for adjustments due to fractional shares.
What is the new CUSIP number for Cyclacel's shares after the split?
The new CUSIP number following the reverse stock split is 23254L884.
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 2 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC added 435,461 shares (+300.3%) to their portfolio in Q4 2024, for an estimated $163,733
- UBS GROUP AG added 34,764 shares (+276.9%) to their portfolio in Q4 2024, for an estimated $13,071
- TWO SIGMA SECURITIES, LLC added 28,580 shares (+inf%) to their portfolio in Q4 2024, for an estimated $10,746
- VSM WEALTH ADVISORY, LLC removed 4,935 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $1,377
- TOWER RESEARCH CAPITAL LLC (TRC) added 1,583 shares (+39.5%) to their portfolio in Q4 2024, for an estimated $595
- SBI SECURITIES CO., LTD. added 400 shares (+49.9%) to their portfolio in Q1 2025, for an estimated $111
- GEODE CAPITAL MANAGEMENT, LLC added 219 shares (+2.1%) to their portfolio in Q4 2024, for an estimated $82
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
BERKELEY HEIGHTS, NJ, May 07, 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-16 reverse stock split on its shares of common stock effective May 12, 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 23254L884.
Upon the effectiveness of the reverse stock split, every 16 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-16 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 May 12, 2025. The pre-reverse stock split number of shares of common stock issued and outstanding is 356,357,531 and the post-reverse stock split number of common stock issued and outstanding will be 22,272,346.
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]
© Copyright 2025 Cyclacel Pharmaceuticals, Inc. All Rights Reserved. The Cyclacel logo and Cyclacel ® are trademarks of Cyclacel Pharmaceuticals, Inc.
SOURCE:
Cyclacel Pharmaceuticals, Inc.