Can-Fite BioPharma Initiating a 1-for-3,000 Reverse Share Split; ADSs Tumble

Dow Jones12-24

By Stephen Nakrosis

Can-Fite BioPharma's American depositary shares slid after its board of directors approved a 1-for-3,000 reverse share split.

The ADSs were down 29% to 17 cents each in post-market trading on Tuesday. The ADSs retreated in the regular trading session 1.7% to close at 24 cents after touching a 52-week low earlier in the day. Year to date, the ADSs have declined 85%.

Concurrently with the reverse split, Can-Fite will change the ratio of ordinary shares underlying its ADSs, from one ADS representing 300 ordinary shares to one ADS representing two ordinary shares. For holders of the company's ADSs, the ratio change will have the same effect as a 1-for-20 ADS split, according to Can-Fite. No adjustment will be made to the outstanding number of the company's ADSs, Can-Fite added.

The company's shares will begin trading on a reverse stock split adjusted basis on Jan. 5.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 23, 2025 17:30 ET (22:30 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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