Propanc Biopharma Implements Reverse Stock Split to Meet Nasdaq Standards

Propanc Biopharma, Inc. announced that its Board of Directors approved a 1-for-10 reverse stock split of the company's issued and outstanding shares of common stock. The corporate action is scheduled to take effect before the market opens on October 26, 2026.

Following the reverse stock split, every ten pre-split common shares will automatically combine into one new share without requiring any action from stockholders. This adjustment will reduce the total number of outstanding common shares from approximately 10,331,116 to roughly 1,033,112 on a pro forma basis. Any fractional shares resulting from the transaction will be rounded up to the nearest whole share.

The company's common stock will continue trading on the Nasdaq Stock Market under its existing ticker symbol, "PPCB," while receiving a new CUSIP number. Securities Transfer Corporation is serving as the exchange agent for the procedure.

James Nathanielsz, Chief Executive Officer of Propanc, explained that the reverse stock split is intended to quickly restore compliance with Nasdaq's continued listing standards and its $1.00 minimum bid price requirement. Nathanielsz noted that the move supports future growth plans and upcoming research and development milestones.

According to leadership, clearing this compliance hurdle paves the way for the execution of key corporate objectives, including a planned Phase 1b, First-In-Human study for their lead asset, PRP, involving up to 50 advanced cancer patients with solid tumors in the first quarter of 2027.

Propanc Biopharma focuses on developing novel treatments for chronic conditions, including recurrent and metastatic cancer. Its lead product candidate is designed to target and eradicate cancer stem cells through proenzyme activation to address the underlying drivers of cancer proliferation.