AnPac Bio (NASDAQ: ANPC) is a biotechnology company with operations in the United States and China focused on early cancer screening and detection. The company today announced that it plans to change the ratio of its American Depositary Shares (“ADSs”) to its Class A ordinary shares from one (1) ADS representing one (1) Class A ordinary share to one (1) ADS representing twenty (20) Class A ordinary shares. The change in the ADS ratio is expected to take place on Nov. 4, 2022 (U.S. Eastern Time). For AnPac Bio ADS holders, the change in the ADS ratio will have the same effect as a one-for-twenty reverse ADS split. Effective Nov. 4, 2022, registered holders of the company’s ADSs held in certificated form will be required on a mandatory basis to surrender their certificated ADSs to the depositary bank for cancellation and will receive one (1) new ADS in exchange for every twenty (20) existing ADSs then-held. Holders of uncertificated ADSs in the Direct Registration System (“DRS”) and in The Depository Trust Company (“DTC”) will have their ADSs automatically exchanged and need not take any action. The exchange of every twenty (20) then-held (existing) ADSs for one (1) new ADS will occur automatically, at time of effective date, with the then-held ADSs cancelled and new ADSs issued by the depositary bank. The ADSs will continue trading on the Nasdaq under the symbol ANPC. There will be no change to AnPac Bio’s Class A ordinary shares.
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About AnPac Bio-Medical Science Co. Ltd.
AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 155 issued patents as of March 31, 2022. With two certified clinical laboratories in China and one CLIA and CAP accredited clinical laboratory in the United States, AnPac Bio performs a suite of cancer screening and detection tests, including cancer differentiation analysis (“CDA”), bio-chemical, immunological, and genomics tests. According to a report by Frost & Sullivan, AnPac Bio ranked first globally in multi-cancer screening and detection test sample volume (accumulative to January 2021). AnPac Bio’s CDA technology platform has been shown in retrospective validation studies to be able to detect the risk of over 20 different cancer types with high sensitivity and specificity. For more information about the company, visit www.AnPacBio.com.
NOTE TO INVESTORS: The latest news and updates relating to ANPC are available in the company’s newsroom at https://ibn.fm/ANPC
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