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Biodexa Pharmaceuticals PLC Announces ADR Ratio Change from 1:10 to 1:100,000.
ByAinvest
Tuesday, Jul 15, 2025 4:33 pm ET1min read
Biodexa Pharmaceuticals PLC announces a change in its American Depositary Receipts (ADR) ratio from one ADR representing 10,000 ordinary shares to one ADR representing 100,000 ordinary shares. The effective date is July 31, 2025. ADR holders will be required to surrender their existing ADRs for cancellation and exchange for new ADRs. This change aims to bring the company's ADR price into compliance with Nasdaq's $1.00 minimum bid price per share requirement.
Biodexa Pharmaceuticals PLC (Nasdaq: BDRX), a clinical stage biopharmaceutical company, has announced a significant change in its American Depositary Receipts (ADR) ratio. Effective July 31, 2025, the ratio will change from one ADR representing 10,000 ordinary shares to one ADR representing 100,000 ordinary shares. This change is aimed at bringing the company's ADR price into compliance with Nasdaq's $1.00 minimum bid price per share requirement.ADR holders will be required to surrender their existing ADRs for cancellation and exchange for new ADRs. The exchange ratio will be 10:1, with JP Morgan Chase Bank managing the process. The ordinary shares of Biodexa will remain unaffected by this change.
The company has stated that it cannot guarantee that the Ratio Change will be effective in achieving the required compliance. This maneuver is seen as a technical adjustment rather than a reflection of improvements in the company's business fundamentals.
For investors, this development signals significant price deterioration and potential financial struggles. Despite being labeled an "acquisition-focused" biopharmaceutical company, Biodexa's financial restructuring suggests it is facing challenges that typically precede more serious financial difficulties. The continued Nasdaq listing remains tenuous even after this adjustment.
References:
1. [1] https://www.globenewswire.com/news-release/2025/07/15/3116036/0/en/ADR-Ratio-Change.html
2. [2] https://www.stocktitan.net/news/BDRX/adr-ratio-einqbuj5jnzc.html
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