Sunshine Biopharma Announces Reverse Stock Split

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Sunshine Biopharma, Inc. (SBFM) implements a one for one hundred reverse stock split to meet Nasdaq's bid price requirement, effective April 17, 2024.
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The announcement of a reverse stock split by Sunshine Biopharma is a strategic maneuver aimed at addressing the Nasdaq's minimum bid price requirement. From a financial perspective, this action consolidates shares and artificially increases the stock price without altering the company's market capitalization. This is often a response to stock price depreciation that places the company at risk of delisting.

Investors should note that while the reverse split does not inherently change the value of the company, it can affect market perception. Historically, reverse splits have been met with mixed reactions. Some investors view them as red flags signaling underlying issues, while others see them as necessary steps for a company's recovery plan. It is also important to consider the potential for increased volatility post-split due to a reduced number of shares available for trading.

Analyzing the market implications of Sunshine Biopharma's reverse stock split, it's essential to consider the broader industry context. Pharmaceutical companies often face significant volatility based on drug development news, regulatory approvals and market competition. A reverse stock split can signal to the market that the company is taking proactive measures to maintain its listing status and improve its appeal to institutional investors who may have policies against investing in stocks below certain price thresholds.

However, it's critical to evaluate the company's overall performance and pipeline. If the fundamentals are strong, with promising drug candidates and a clear strategic direction, the reverse split could be seen as a temporary measure while the company strengthens its core business. Conversely, if the company is struggling with its pipeline or facing financial challenges, the reverse split might not be sufficient to instill long-term investor confidence.

From a legal standpoint, Sunshine Biopharma's reverse stock split must adhere to both corporate governance rules and securities regulations. The action requires approval from the board of directors and, in some cases, shareholders. It is also subject to stringent disclosure requirements to ensure transparency with investors.

Companies undergoing reverse splits must communicate the rationale and expected outcomes clearly to avoid potential legal pitfalls associated with investor relations. Any missteps in this process could lead to regulatory scrutiny and erode investor trust. It is also worth noting that while the reverse split is a tool to comply with listing requirements, it does not address the underlying issues that may have led to the stock's decline, such as operational or financial shortcomings, which are of legal concern if not properly disclosed.

NEW YORK, NY / ACCESSWIRE / April 12, 2024 / Sunshine Biopharma, Inc. (NASDAQ:SBFM) (the "Company" or "Sunshine Biopharma"), a pharmaceutical company offering and researching life-saving medicines in a variety of therapeutic areas including oncology and antivirals, announced today a one for one hundred reverse split of its common stock, effective at market open on April 17, 2024. The reverse stock split was undertaken to regain compliance with Nasdaq's minimum bid price requirement for continued listing.

About Sunshine Biopharma, Inc.

Sunshine Biopharma currently sells 52 generic prescription drugs in Canada and has 32 additional drugs scheduled to be launched in Canada in 2024 and 2025. In addition, Sunshine Biopharma is conducting a proprietary drug development program which is comprised of (i) K1.1 mRNA for liver cancer, and (ii) PLpro protease inhibitor for SARS Coronavirus infections. For more information, please visit:

Safe Harbor Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company's product development and business prospects, and can be identified by the use of words such as "may," "will," "expect," "project," "estimate," "anticipate," "plan," "believe," "potential," "should," "continue" or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans, including those disclosed in the Company's filings with the Securities and Exchange Commission. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

For Additional Information Contact:

Camille Sebaaly, CFO
Direct Line: 514-814-0464

SOURCE: Sunshine Biopharma, Inc.

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Why did Sunshine Biopharma (SBFM) announce a reverse stock split?

Sunshine Biopharma (SBFM) announced a one for one hundred reverse stock split to comply with Nasdaq's minimum bid price requirement for continued listing.

When will the reverse stock split of Sunshine Biopharma (SBFM) take effect?

The reverse stock split of Sunshine Biopharma (SBFM) will be effective at market open on April 17, 2024.

What is the purpose of the reverse stock split for Sunshine Biopharma (SBFM)?

The purpose of the reverse stock split for Sunshine Biopharma (SBFM) is to regain compliance with Nasdaq's minimum bid price requirement for continued listing.

Sunshine Biopharma, Inc.


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Research and Development in Biotechnology
Professional, Scientific, and Technical Services
United States of America

About SBFM

sunshine biopharma inc (sbfm) is a pharmaceuticals company based out of 469 jean-talon west, 3rd floor, montreal, québec, canada.