“We believe the increased market price of our common stock expected to result following the implementation of the reverse stock split may improve the marketability and liquidity of our common stock and encourage interest and trading in our common stock,” said
AmpliPhi currently plans the reverse stock split and corresponding reduction in authorized shares of common stock to become effective at approximately
Bacteriophages, or more simply “phages,” are the natural predators of bacteria and are thought to be the most abundant life form on earth. Over eons, phages have evolved an incredible diversity of specialist strains that typically prey upon just one strain of bacteria, enabling phage therapies to precisely target pathogenic bacteria while sparing the beneficial microbiota. Phages can infect and kill bacteria, whether they are antibiotic-resistant or not, and even when they have formed protective biofilms.
Statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, without limitation, statements about the potential use of bacteriophages to treat bacterial infections, including infections that do not respond to antibiotics, the potential benefits of phage therapy, AmpliPhi’s development of bacteriophage-based therapies, and statements related to the anticipated timing and implementation of the proposed reverse split of AmpliPhi’s outstanding common stock, as well as the expected benefits of the reverse stock split. Among the factors that could cause actual results to differ materially from those indicated in these forward-looking statements are risks and uncertainties associated with: (i) the trading price of AmpliPhi’s common stock, including the possibility that the trading price will not increase in the same proportion as the reduction in the number of outstanding shares of common stock following the proposed reverse stock split; (ii) whether any increase in the trading price of AmpliPhi’s common stock following the reverse stock split will be sufficient to attract brokers and investors who do not trade in lower priced stocks; (iii) whether the proposed reverse stock split will have the desired effect of enhancing the liquidity of AmpliPhi’s common stock, which liquidity may be negatively impacted given the reduced number of shares outstanding after the reverse stock split and the increase in the number of shareholders who own “odd lots” of fewer than 100 shares of common stock (brokerage commission and other costs of transactions in odd lots are generally higher than the costs of transactions of more than 100 shares of common stock); and (iv) AmpliPhi’s business and financial condition and the other risks and uncertainties described in AmpliPhi’s Annual Report on Form 10-K for the year ended