Cyclacel Plunges 12.43% on Reverse Stock Split Announcement

On May 7, 2025, Cyclacel's stock experienced a significant drop of 12.43% in pre-market trading, marking a notable decline in its share price.

Cyclacel Pharmaceuticals has announced a 1-for-16 reverse stock split, effective May 12, 2025. This move is aimed at increasing the stock's price per share, which could potentially attract more investors and improve liquidity. The company's common stock will continue trading under the same ticker symbol, NASDAQ: CYCC.

Cyclacel Pharmaceuticals has entered into an Exchange Agreement with FITTERS Diversified Berhad, a Malaysian investment holding company. Under this agreement, all ordinary shares of FITTERS' subsidiary, Fitters Sdn. Bhd., will be exchanged for common stock of Cyclacel. This transaction is expected to result in Cyclacel stockholders owning approximately 80.01% of the combined company, with FITTERS owning 19.99%. The combined entity will be renamed Bio Green Med Solution, Inc. and will continue to be listed on the Nasdaq Capital Market under a new ticker symbol. The transaction is subject to approval from both Cyclacel stockholders and FITTERS, with a termination date set for August 31, 2025.