Biophytis Announces Significant Change in ADR Program Ratio

Biophytis SA, a biotechnology firm focused on therapeutics for aging-related diseases, has declared a major adjustment to the ratio of its American Depositary Shares (ADSs) relative to its ordinary shares. Previously, one ADS corresponded to 100 ordinary shares, but following the upcoming change, this will shift to one ADS for 4,000 shares. This ratio change, set to take effect on April 23, 2024, mirrors a one-for-forty reverse ADS split. The adjustment aims to streamline the structure without altering the total number of outstanding ordinary shares.

The Nasdaq-listed ADSs, trading under the ticker "BPTS," will not see any new shares issued due to this alteration. The logistics of the change include a mandatory exchange for ADR holders, who will need to trade 40 existing ADRs for one new ADR. However, ADS holders utilizing intermediary services will not need to take any direct action.

Biophytis anticipates that this reconfiguration will enhance the trading price of the ADSs, reflecting a proportional increase, although this is not guaranteed to match the previous trading values multiplied by the new ratio. This adjustment is viewed as a strategic move to optimize market performance.