PMGC Holdings executes modest stock repurchase

Published 11/03/2025, 13:04
PMGC Holdings executes modest stock repurchase

In a recent development, PMGC Holdings Inc., a pharmaceutical company based in Newport Beach, California, has repurchased a small number of its common shares from two shareholders. The transaction, which took place on March 7, 2025, involved the buyback of approximately 70.5 shares at a price of $0.7231 per share, amounting to a total of around $52. The company, currently trading at $5.16 with a market capitalization of approximately $3 million, has seen its stock decline by about 39% in the past week, according to InvestingPro data.

This share repurchase was initiated after the company was approached by individual investors expressing interest in selling their shares back to the company. PMGC Holdings completed the transaction by purchasing 32.5 (rounded to 33 for whole share reporting) shares from one investor and 38 shares from another.

The company, listed on The Nasdaq Stock Market under the trading symbol ELAB, has not made any commitments regarding future repurchases. The decision to buy back more shares from investors will be considered on a case-by-case basis.

The specific terms of the share buyback agreements have been detailed in a form filed as Exhibit 99.1 with the company’s current report on Form 8-K. This move by PMGC Holdings comes amid the company’s broader efforts to manage its capital structure.

The information disclosed in this article is based on a press release statement from PMGC Holdings Inc. and is intended to provide shareholders and the investing public with key facts regarding the company’s recent financial activity. The company, formerly known as Elevai Labs Inc. and Reactive Medical (TASE:BLWV) Labs Inc., is incorporated in Nevada and operates under the pharmaceutical preparations industry classification.

In other recent news, PMGC Holdings Inc. announced a 1-for-7 reverse stock split of its common stock, which will help the company comply with Nasdaq’s minimum bid price requirement and maintain its listing. Additionally, PMGC Holdings completed warrant inducement transactions, raising gross proceeds of $1.94 million, and entered into an agreement with institutional investors to exercise Series A warrants, expected to generate nearly $1.9 million. Meanwhile, PMGC Holdings has terminated a License Agreement with INmune Bio (NASDAQ:INMB), ending their collaboration on the development of certain cosmetic products. The company is considering other in-licensing opportunities but has not made formal decisions yet.

Northstrive Biosciences Inc., a subsidiary of PMGC Holdings, has scheduled a pre-IND meeting with the FDA to discuss the development of EL-22, a potential treatment for obesity. EL-22 has shown promising results in preclinical studies and a Phase 1 clinical trial in South Korea. Following the FDA meeting, Northstrive plans to file an IND application and begin clinical trials. These developments reflect PMGC Holdings’ ongoing efforts to manage and grow its portfolio across various industries.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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