cemagraphics
- Propanc Biopharma (OTCPK:PPCB) board approved a 1-for-1000 reverse stock split of its common shares.
- The shares will begin trading on a split-adjusted basis at market open, May 23 (today).
- "The reverse split will place us in a better position to receive further funding from one of our institutional investors to advance our lead product candidate, PRP, towards a First-In-Human study, as well as supporting our joint research projects with the Universities of Jaén and Granada, said Propanc's CEO James Nathanielsz.
- The company noted that PRP is a mixture of two proenzymes, trypsinogen and chymotrypsinogen from bovine pancreas, given by intravenous injection.