BriaCell Therapeutics Corp. Announces Share Consolidation
December 24 2019 - 6:30AM
BriaCell Therapeutics Corp. ("BriaCell" or the "Company")
(TSX-V:BCT) (OTCQB:BCTXF), a clinical-stage biotechnology
company specializing in targeted immunotherapy for advanced breast
cancer, announces that its Board of Directors has approved a
consolidation (the "
Consolidation") of the
Company's issued and outstanding common shares (the "
Common
Shares") on the basis of three hundred (300)
pre-consolidation shares for one (1) post-consolidated share. The
purpose of the Consolidation is to facilitate the Company’s ability
to list on a recognized stock exchange in the United States of
America. The effective date for the Consolidation will be January
2, 2020.
The Company currently has 216,589,090 Common
Shares outstanding and if completed, the Consolidation would reduce
the issued and outstanding Common Shares to approximately 721,924
Common Shares. The Consolidation has been approved by the TSX
Venture Exchange (the "TSXV") and the Company's
Common Shares will trade on a consolidated basis under the existing
name and trading symbol BCT on January 2, 2019.
A letter of transmittal will be sent to
registered shareholders providing instructions to surrender the
certificates evidencing their Common Shares in exchange for
replacement certificates representing the number of Common Shares
to which they are entitled as a result of the Consolidation. Until
surrendered, each certificate representing Common Shares to which
the holder thereof is entitled as a result of the
Consolidation.
There is no name change in conjunction with the
Consolidation, and the Company's trading symbol on the TSXV will
remain the same.
About BriaCell
BriaCell is an immuno-oncology focused
biotechnology company developing targeted and safe approaches for
the management of cancer.
BriaCell is conducting a Phase I/IIa clinical
trial of Bria-IMT™, BriaCell’s lead candidate, in a Combination
Study with immune checkpoint inhibitors such as the Incyte drugs
INCMGA00012 (an anti-PD-1 antibody similar to pembrolizumab
[KEYTRUDA®; manufactured by Merck & Co., Inc. (NYSE: MRK)]) and
epacadostat, an orally bioavailable small-molecule inhibitor of
indoleamine 2,3-dioxygenase 1 (IDO1). The combination study is
listed in ClinicalTrials.gov as NCT03328026.
BriaCell currently has a non-exclusive clinical
trial collaboration with Incyte Corporation to evaluate the effects
of combinations of novel clinical candidates. Under the agreement,
Incyte and BriaCell will be evaluating novel combinations of
compounds from Incyte’s development portfolio with BriaCell’s drug
candidates in advanced breast cancer patients.
BriaCell is also developing Bria-OTS™, an
off-the-shelf personalized immunotherapy, for advanced breast
cancer. Bria-OTS™ immunotherapy treatments are personalized to
match the patient without the need for personalized manufacturing.
Bria-OTS™, which is expected to cover over 99 percent of the
patient population, is designed to produce a potent and selective
immune response against the cancer of each patient while
eliminating the time, expense and complex manufacturing logistics
associated with other personalized immunotherapies.
For additional information on BriaCell, please
visit: https://briacell.com/.
Cautionary Note Regarding Forward-Looking
Information
Except for the statements of historical fact,
this news release contains "forward-looking information" within the
meaning of the applicable Canadian securities legislation which
involves known and unknown risks relevant to the Company in
particular and to the biotechnology and pharmaceutical industries
in general, uncertainties and other factors that may cause actual
events to differ materially from current expectation. These risks
are more fully described in the Company's public filings available
at www.sedar.com.
Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company disclaims any
intention or obligation, except to the extent required by law, to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contact Information
For further information, please
contact:BriaCell Therapeutics Corp.:Farrah
DeanManager, Corporate DevelopmentEmail: farrah@BriaCell.com Phone:
1-888-485-6340
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