TC BioPharm (Holdings) plc American Depositary Shares - TCBP STOCK NEWS

TC BioPharm (NASDAQ: TCBP) has announced a significant change in its American Depositary Shares (ADS) ratio. Effective August 5th, 2024, the company will adjust its ADS to ordinary shares ratio from 1:20 to 1:200. This change will function similarly to a 1-for-10 reverse ADS split for ADS holders. Key points:

- No impact on underlying ordinary shares
- ADS holders must exchange every 10 ADSs for 1 new ADS
- Fractional new ADSs will be sold, with proceeds distributed to holders
- Trading continues on Nasdaq under 'TCBP' symbol
- ADS trading price expected to increase proportionally, though not guaranteed

This strategic move aims to adjust TCBP's market presence, potentially affecting its stock valuation and investor perception.

TC BioPharm (NASDAQ: TCBP) has announced the dosing of the sixth patient in its ACHIEVE UK clinical trial for acute myeloid leukemia (AML) on July 16, 2024. This marks the first patient treated with a higher dose of TCB-008 following an amendment approved by the MHRA in February 2024. The trial, now in Phase II, aims to evaluate the efficacy of TCB-008 in patients with AML or MDS/AML who have relapsed or refractory disease.

The study consists of two cohorts: Cohort A for relapsed/refractory patients and Cohort B for patients with detectable residual disease after remission. The new dosage contains up to 230 million cells per dose, increased from the previous 35 million. Eligible patients may receive up to four doses, totaling approximately 1 billion cells. TC BioPharm expects to dose up to 10 more patients in 2024 and plans to open an additional clinical trial site in Q3.

TC BioPharm (NASDAQ: TCBP) announced the launch of a compassionate use program for its lead therapeutic, TCB008. This program allows access to TCB008 for patients in the UK who cannot be treated with available licensed treatments. Compassionate use involves prescribing unlicensed medicinal products in specific clinical scenarios. Patients must meet entry criteria to ensure safety and data integrity. Regulatory approval is required for any market use of these products. The program provides treatment options for patients not eligible for experimental treatments in clinical trials. CEO Bryan Kobel emphasized the importance of patient needs, quality of life, and the potential to expand data and use cases for TCB008.

TC BioPharm (Holdings) plc announced the exercise of warrants for £3.1 million gross proceeds. The Company entered into a definitive agreement for the immediate exercise of certain outstanding warrants to purchase 1,750,000 of the Company's American Depositary Shares. The gross proceeds are expected to be approximately £3.1 million. In return for the exercise of the warrants, the Company will issue new unregistered warrants to purchase 3,500,000 shares of common stock. The offering is expected to close on May 8, 2024. The net proceeds will be used to support an upcoming clinical trial on Acute Myeloid Leukemia.

TC BioPharm (NASDAQ: TCBP) announced the execution of a non-binding letter of intent to acquire a biotechnology company focusing on CAR-T therapies for refractory cancers and solid tumors. The acquisition target has proven the therapeutic potential of its lead CAR-T candidate for various solid tumors and is also developing a novel allogeneic CAR-T for autoimmune diseases. The potential acquisition aims to expand TC BioPharm's therapeutic platform and bring synergies in CAR development expertise, providing multiple shots on goal for the treatment of various indications.

TC BioPharm (NASDAQ: TCBP) announced the execution of a non-binding letter of intent for an asset acquisition to expand its therapeutic platform with allogeneic CAR-NK therapeutics. The acquisition covers the proprietary manufacturing process of two CAR-NK therapeutics targeting solid tumors, aiming to leverage NK cells in treating various indications. The company sees synergies in combining these assets with its existing TCB-008 therapy. The LOI grants exclusivity for negotiation of a definitive agreement, subject to board approval and other conditions.

TC BioPharm (TCBP) aims to reduce patient treatment costs by 85% through a streamlined manufacturing process, increasing treatment capacity from 52 to over 1,000 per year. The initiative is set to be implemented in the next 24 months, enhancing operational efficiency and creating long-term value for shareholders.

TC BioPharm (NASDAQ: TCBP) has adjourned its General Meeting to await clarity on a material matter related to the shareholder vote. The Company was set to vote on resolutions regarding adjournment of the meeting and the approval of securities issuance. CEO Bryan Kobel expressed gratitude for shareholder support and emphasized the company's commitment to its strategic plan.

TC BioPharm (NASDAQ: TCBP) receives $1.26 million in gross proceeds from an institutional investor exercising warrants. The net cash infusion after fees is $1.17 million. The company plans to use the funds for additional working capital, highlighting confidence in their clinical programs and TCB-008 therapy.