BriaCell Therapeutics Corp. said its board approved a consolidation of its shares that was announced in October.
The company will undertake a reverse stock split of its shares at a ratio of 1-for-300, effective Jan. 2, 2020. The West Vancouver, Canada-based company expects to gain a listing on a recognized stock exchange in the U.S. through the reverse split.
BriaCell will reduce its issued and outstanding from 216,589,090 to approximately 721,924 after the split.
BriaCell is a clinical-stage biotechnology company that specializes in immunotherapy for advanced breast cancer. It is currently listed on the TSX-V and the OTCQB.