Is NCNA intending to implement a reverse stock split

Yes, NuCana (NCNA) is intending to implement a reverse stock split. NCNA has announced a change in the ratio of its American Depository Shares (ADSs) to ordinary shares, effectively a one-for-twenty-five reverse ADS split, set to take effect around April 16, 2024. This move is aimed at improving the liquidity of the company's ADSs and to meet the Nasdaq exchange's minimum bid price requirements. The adjustment will be automatically applied to shareholders' holdings, and any fractional ADSs will be aggregated, sold, and the proceeds distributed to the relevant ADS holders.