PharmaCyte approves 1-for-19 reverse stock split to regain Nasdaq price compliance
Key Facts
PharmaCyte Biotech’s board of directors approved a reverse stock split of one share for every 19 shares outstanding, a move the company said is intended to raise its share price and regain compliance with Nasdaq’s minimum bid price requirement. The company announced the decision on November 11, 2026, after shareholders approved giving the board authority to carry out a reverse split at their annual meeting. The decision becomes legally effective at 4:01 p.m. Eastern Time on November 12. Split-adjusted trading begins on November 13, according to the company’s statement published via Business Wire. The move comes before Nasdaq’s extended compliance deadline of November 30.
The split will convert every 19 existing shares into one share, with no fractional shares to be issued. The company said shareholders whose holdings result in fractional shares will receive cash equal to the value of the fraction, calculated using the November 12 closing price adjusted for the split. PharmaCyte estimated that its outstanding common shares would fall from approximately 10,755,649 to approximately 566,087 after the split, while the total number of authorized shares would remain unchanged. Exercise prices for outstanding options and warrants, conversion prices for outstanding convertible securities, and the number of shares tied to equity incentive plans will be adjusted proportionately. The company said trading will continue under the ticker PMCB, but with a new CUSIP number, 71715X 302.
The company linked the decision directly to Nasdaq’s minimum bid price requirement, saying the split is “intended to increase the per-share trading price” to enable it to regain compliance. Nasdaq notified PharmaCyte on December 1, 2025, that it did not meet the $1 minimum bid price requirement, based on closing prices over 30 consecutive business days before the notice. The exchange then granted it an additional 180-day compliance period on June 2, 2026, ending November 30. According to the company’s disclosure, regaining compliance requires the stock to close at $1 or more for 10 consecutive business days. Nasdaq may require that level to be maintained for a longer period, typically up to 20 consecutive business days.
Shareholders at the March 30, 2026, meeting approved an amendment authorizing the board to choose a split ratio ranging from 1-for-1.1 to 1-for-100. The board has now selected a 1-for-19 ratio to carry out the measure before the compliance deadline. EL7 data showed PMCB shares closed at $0.4021 on November 10, compared with a close of $0.407 in the previous session. The stock had closed at $0.381 on November 4, then $0.3752 on November 5 and $0.36 on November 6, before rising to $0.407 on November 9. These closing prices leave the stock below the $1 level Nasdaq set for regaining compliance.
Company disclosures show that the share price issue predates the current action; in the fiscal year ended April 30, 2026, the stock traded between $0.63 and $1.51, according to its annual report. PharmaCyte also described the stock as volatile, saying this increases the risk that investors may not be able to sell at the price or time they want. The mathematical increase in the share price resulting from reducing the number of shares remains separate from Nasdaq’s requirement, which calls for maintaining the required closing price over the specified number of business days. The company warned there is no guarantee that any reverse split will lead to a sustained increase sufficient to regain or maintain compliance. If it does not regain compliance by November 30, the company said Nasdaq will notify it that its shares are at risk of delisting.