On March 31, 2017 Propanc Health Group Corporation (OTCQB: PPCH) ("Propanc" or "the Company"), an emerging healthcare company focusing on development of new and proprietary treatments for cancer patients suffering from solid tumors such as pancreatic, ovarian and colorectal cancers, reported that its Board of Directors has approved a corporate name change and ratio for the reverse stock split of the issued and outstanding shares of common stock (Press release, Propanc, MAR 31, 2017, View Source [SID1234518414]). The Company had previously announced that the Board and a majority of its voting stockholders had approved a range for a reverse stock split and a reduction in the number of authorized shares of common and preferred stock of the Company.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The Company’s name will change to Propanc Biopharma Inc. on April 7, which symbolizes a new and exciting growth phase for the Company, as it heads towards First-In-Man studies for its lead product, PRP.

Also, it is expected that prior to the commencement of trading on April 7 a 1-for-250 reverse stock split will be effectuated. The number of authorized shares of common stock will be reduced from 2 billion to 100 million and the number of authorized shares of preferred stock of the Company reduced from 10 million to just over 1.5 million. Investors should note that for 20 trading days after the reverse stock split, the ticker symbol of the Company’s common stock will change to PPCHD.

"As a result of the Company’s recent progress and anticipated upcoming milestones, we believe the timing is right to change our Company name to better reflect our stage of growth and development, as well as execute the reverse stock split," said James Nathanielsz, Propanc’s Chief Executive Officer. "Given that we expect to complete our GLP toxicity study very soon and expect to then move forward with First-In-Man studies of our lead product, PRP, we wanted to launch our corporate strategy to address our capital structure, reduce debt, and raise additional capital sufficient to progress PRP through clinical development. By undertaking these steps, management hopes to better position the Company for an up-listing of our common stock to a national stock exchange in order to help ensure the long-term future of the Company and create value for its shareholders."

The Company’s lead product, PRP, is a novel, patented, formulation consisting of two pancreatic proenzymes, trypsinogen and chymotrypsinogen. Currently in preclinical development and progressing towards First-In-Man studies, PRP aims to prevent tumor recurrence and metastasis in solid tumors. Eighty percent of all cancers are solid tumors and metastasis is the main cause of patient death from cancer. The Company’s initial target patient populations include pancreatic, ovarian and colorectal cancers.

To view Propanc’s "Mechanism of Action" video on anti-cancer product candidate, PRP, please click on the following link: View Source

To be added to Propanc’s email distribution list, please email [email protected] with "Propanc" in the subject line.