Today, Purple Biotech Ltd(NASDAQ/ASS: KTO V) has reported a transition of its corporate names from Kitov Pharma Ltd. to Purple Biotech Ltd., a research phase organization advancing first-class treatments to resolve tumor tolerance and drug resistance. The change of name will be valid for commercial purposes, as of the open market on 22 December 2020 for the Tel Aviv Stock Exchange (TASE) and the NASDAQ Financial Market (NASDAQ: PPBT at https://www.webull.com/quote/nasdaq-ppbt).
The Corporation will at this point continue trading under the current ticker symbol, “PPBT,” in TASE and the NASDAQ respectively, on the common stock and American Depositary Shares (ADSs). Popular shares of the Company will continue to be traded with TASE and their Advertising will continue to trade on NASDAQ by closing the exchange on 21 December 2020 under the “KTOV” ticker symbol. A new CUSIP number (74638P109) was allocated to the ADSs of the Company effective December 22, 2020, as explained above.
For our business, 2020 was a significant year of accomplishments. We recently began phase-one-half clinical trials of NT219 and plan to commence our phase-one-half trials of CM24 soon. This year’s investment for clinical research and our financial strategy has already been good for over 60 million dollars. As we head into 2021 we are looking forward to taking advantage of the compelling possibilities and moving forward our goals to improve cancer patients’ survival and quality of life,” added Isaac Israel.The firm will shortly move its headquarters to Science Park, a main regional biotech site, near Weizmann Institute in Rehovot, Israel.
No action on the corporate name change is expected from shareholders and holders of ADSs. Brand adjustment would not affect the number of remaining common stock and Advertisements. The Organization plans to create additional ordinary course filings in conjunction with the name change
Purple biotech shares
Long-term investment is fine, but with a single stock it doesn’t always work. We don’t want anyone to waste tragic money. Whoever owned Purple Biotech Ltd. (NASDAQ: PPBT) for five years will suffer their metaphorical hurt as the share price plummeted 90%. And, in the last 12 months, the stock price has fallen 46%. We doubt long-term faithful are the only worried investors. Unfortunately, in the last week the share price has slid 1.9%.
Companies lacking both significant sales and benefit are commonly viewed as high risks. You should realize that this kind of organization will still have to collect additional shares to continue following its business strategy. Whereas some such businesses produce wealth, income and value, others are overrun by desperate naives before bankruptcy. Certainly, as Purple Biotech buyers will see, this is a risky spot to buy. You can check more stocks like nasdaq vldrw at https://www.webull.com/quote/nasdaq-vldrw.