Biodexa Pharmaceuticals changes ADR ratio to meet Nasdaq requirements

Biodexa Pharmaceuticals PLC (NASDAQ: BDRX) announced a change to its American Depositary Receipt ratio effective April 6, 2026. The clinical stage biopharmaceutical company will adjust the ratio from one ADR representing 100,000 ordinary shares to one ADR representing 500,000 ordinary shares.

Under the ratio change, ADR holders must surrender their existing ADRs and receive one new ADR for every five old ADRs held. The new ADRs will carry CUSIP number 59564R872, while the old ADRs have CUSIP number 59564R880. No fractional ADRs will be issued, and any fractional shares will be sold with proceeds distributed to entitled holders.

JP Morgan Chase Bank, N.A., serving as the company's depositary, will contact ADR holders to arrange the exchange process. The ratio change functions as a one-for-five reverse ADR split for holders, though the company's ordinary shares remain unaffected.

The company stated the ratio change aims to bring ADR prices into compliance with Nasdaq's $1.00 minimum bid price requirement. Biodexa noted it cannot guarantee the ratio change will achieve this compliance goal.

Biodexa develops treatments for rare diseases with unmet medical needs through its clinical stage pipeline. The ratio change represents a corporate action designed to address exchange listing requirements rather than affecting the underlying business operations.

You May Also Be Interested In

• Repay rejects Forager Capital's $5.25-per-share acquisition bid
• Spero Therapeutics secures $105M royalty-backed financing deal
• AngioDynamics reports fiscal 2026 full-year net sales of $320M