(MENAFN- Investor Brand Network) QSAM Biosciences (OTCQB: QSAM) previously announced that it will effectuate a reverse stock split of the issued and outstanding shares of QSAM's common stock, par value $0.0001 per share, at a ratio in the range of 1:1000 to 1:2000, prior to the closing of the merger between the company and Telix Pharmaceuticals Limited (ASX: TLX) (OTC: TLPPF) , under which Telix will acquire QSAM. On April 15, 2024, the board of directors of QSAM unanimously approved a reverse stock split ratio of 1-for-2,000 that, once effective, every holder of common stock of the company shall receive one share of common stock for every 2,000 shares of common stock held (the“reverse stock split”). On Feb. 7, 2024, a majority of the voting shareholders of QSAM approved the reverse stock split and granted the board the discretion to adopt the ratio prior to the closing of the merger.
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About QSAM Biosciences Inc.
QSAM Biosciences is developing next-generation nuclear medicines for the treatment of bone cancer. QSAM's initial technology, 153 Sm-DOTMP, is a clinical-stage bone-targeting radiopharmaceutical originally developed by IsoTherapeutics Group LLC.
NOTE TO INVESTORS: The latest news and updates relating to QSAM are available in the company's newsroom at
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