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MOUNTAIN VIEW, Calif. - Aditxt, Inc. (NASDAQ: ADTX), a health innovation company with a current market capitalization of $4.2 million, has announced a reverse stock split of its common stock at a ratio of 1-for-250, set to take effect at the start of trading on the Nasdaq Capital Market on March 17, 2025. This corporate action was approved by shareholders on February 28, 2025, with the board of directors finalizing the ratio. According to InvestingPro data, the company’s stock has declined nearly 100% over the past year, reflecting significant operational challenges.
Post-split, Aditxt will have a new CUSIP number, 007025802, and approximately 1,031,110 shares of common stock issued and outstanding. The reverse stock split aims to align the company with Nasdaq’s minimum bid price requirement. Shareholders will receive 1 new share for every 250 shares they owned prior to the split, with fractional shares rounded up to the next whole share. InvestingPro analysis reveals concerning financial metrics, including a weak current ratio of 0.09 and negative EBITDA of $29.61 million in the last twelve months.
The company’s definitive proxy statement concerning the reverse stock split is available in filings with the Securities and Exchange Commission dated January 27, 2025.
Aditxt is an innovation platform focused on advancing health innovations through collaboration with research institutions, industry partners, and shareholders. The company operates programs in immune and precision health and plans to launch additional programs in public health and women’s health.
Aditxt has entered into agreements with Appili Therapeutics, Inc. (TSX: APLI; OTCPink: APLIF) and Evofem Biosciences, Inc. (OTCQB: EVFM), subject to certain conditions including shareholder approvals and raising sufficient capital. The company needs to secure approximately $17 million for each agreement, including $15.2 million to satisfy Evofem’s senior secured noteholder. The merger with Evofem is uncertain as the special stockholders meeting was canceled on December 23, 2024, and the proposal was withdrawn. Financial health monitoring is crucial in such situations - gain access to over 15 additional key financial metrics and insights with InvestingPro, including detailed cash flow analysis and debt sustainability metrics.
This news is based on a press release statement from Aditxt, Inc. and does not include any speculative or forward-looking statements.
In other recent news, Aditxt, Inc. has announced progress in the development of ADI-100, a therapeutic candidate for autoimmune diseases, through its subsidiary Adimune, Inc. Preclinical studies have been completed, and the company is preparing for clinical trials in Germany and collaborating with the Mayo Clinic in the U.S. for regulatory submissions. Additionally, Aditxt has approved a reverse stock split, with stockholders voting to authorize the board to implement a split ratio ranging from one-for-five to one-for-two hundred fifty. This decision was made to allow more time for voting on proposals related to the issuance of common stock underlying preferred stock and warrants.
Furthermore, Aditxt’s subsidiary, Pearsanta, Inc., is preparing for an initial public offering (IPO) with Dominari Securities LLC as the lead underwriter. The IPO is aimed at supporting Pearsanta’s commercial launch of its Mitomic® Technology for early cancer detection. Pearsanta’s technology focuses on using mitochondrial DNA deletions as biomarkers for disease detection, with potential applications beyond oncology. The IPO is expected to provide the necessary resources for Pearsanta’s expansion in the U.S. and international markets. These developments reflect Aditxt’s ongoing commitment to advancing health innovations and addressing unmet healthcare needs.
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