Full Press Release Details
GAITHERSBURG, Md., Oct. 15, 2024 (GLOBE NEWSWIRE) -- BiomX Inc. (NYSE American: PHGE) (“BiomX” or the “Company”), a clinical-stage company advancing novel natural and engineered phage therapies that target specific pathogenic bacteria, announces a mandatory separation of its units, which trade under the ticker symbol “PHGE.U”, each of which consists of one share of Common Stock and one warrant to purchase one-half of a share of Common Stock (the “Units”). Each warrant (a “Warrant”) entitles the holder to purchase one-half of a share of Common Stock at price of $115 per share.
On or about October 25, 2024, the Units will be mandatorily separated and will no longer trade on the NYSE American (the “Mandatory Unit Separation”). In the separation, Unit holders will receive the number of shares of Common Stock and Warrants underlying such Units. This is a mandatory and automatic separation, and no action is required by the holders of Units. The Warrants will expire on October 28, 2024.
Following the Mandatory Unit Separation, the shares of Common Stock underlying the Units will trade under the symbol PHGE with the other existing shares of the Company’s Common Stock.
BiomX is a clinical-stage company leading the development of natural and engineered phage cocktails and personalized phage treatments designed to target and destroy harmful bacteria for the treatment of chronic diseases with substantial unmet needs. BiomX discovers and validates proprietary bacterial targets and applies its BOLT (“BacteriOphage Lead to Treatment”) platform to customize phage compositions against these targets. For more information, please visit www.biomx.com, the content of which does not form a part of this press release.