Portage Biotech Inc (PRTG) has released an update.
Portage Biotech Inc. has announced a 1-for-20 reverse stock split to raise its per-share trading price, ensuring compliance with Nasdaq’s minimum bid price requirement. This strategic financial move, effective from August 15, 2024, will proportionally consolidate shareholder’s stakes, adjusting outstanding options, warrants, and future issuance plans accordingly. The company is also exploring various strategic alternatives, including partnerships, sales, mergers, or further financing to advance its clinical-stage cancer therapies.
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