PMGC Holdings announces share repurchase from existing investors

Published 21/03/2025, 13:06
PMGC Holdings announces share repurchase from existing investors

NEWPORT BEACH, Calif. - PMGC Holdings Inc. (NASDAQ: ELAB), a diversified holding company with a market capitalization of $3.7 million, has recently bought back shares from some of its shareholders, as disclosed in its latest Form 8-K filings with the Securities and Exchange Commission (SEC). According to InvestingPro data, the company maintains strong liquidity with a current ratio of 3.86, though it’s currently experiencing rapid cash burn. The company has indicated openness to further repurchases, contingent on market conditions and other factors. While the stock has gained over 53% in the past week, InvestingPro analysis shows the company’s overall financial health score remains weak, with 15 additional key insights available to subscribers. Shareholders interested in potential buybacks are invited to submit written requests to the company’s headquarters.

This activity is not part of a formal share repurchase program or tender offer, and any additional buybacks will be at the discretion of PMGC Holdings. The company emphasizes that the press release is not an offer to buy or a solicitation to sell securities.

PMGC Holdings manages a portfolio of subsidiaries, including Northstrive Biosciences Inc., PMGC Research Inc., and PMGC Capital LLC, and seeks growth through acquisitions, investments, and development in various industries. The company maintains impressive gross profit margins of 71%, though it hasn’t achieved profitability in the last twelve months.

The press release also contains forward-looking statements that are not historical facts but are based on current expectations, beliefs, and assumptions about the company’s future. PMGC Holdings cautions that these statements are subject to uncertainties and changes that may cause actual results to differ from those anticipated.

Investors are encouraged to review PMGC Holdings’ filings with the SEC, including the "Risk Factors" section of its Annual Report for the year ended December 31, 2023, for a more detailed understanding of the risks involved. For comprehensive financial analysis and real-time valuations, investors can access detailed metrics and expert insights through InvestingPro.

The information for this report is based on a press release statement from PMGC Holdings Inc.

In other recent news, PMGC Holdings Inc. has announced a 1-for-7 reverse stock split of its common stock, effective March 10, 2025, to comply with Nasdaq’s minimum bid price requirement. This strategic move aims to maintain the company’s listing on The Nasdaq Capital Market, with around 577,000 shares expected to be issued and outstanding post-split. Additionally, PMGC Holdings has completed transactions under a warrant inducement agreement, raising gross proceeds of $1.94 million. Univest Securities, LLC, served as the financial advisor and received compensation for its role in the transactions.

In another development, PMGC Holdings has mutually terminated a License Agreement with INmune Bio, Inc., effective February 27, 2025, which previously allowed the company to develop and commercialize certain cosmetic products. The company is exploring other in-licensing opportunities but has not made any formal decisions. Furthermore, Northstrive Biosciences Inc., a subsidiary of PMGC Holdings, has scheduled a pre-IND meeting with the FDA for its obesity treatment, EL-22, marking a significant step in its development. Lastly, PMGC Holdings executed a modest stock repurchase, buying back approximately 70.5 shares, as part of its broader efforts to manage its capital structure.

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