Kiromic BioPharma issued a letter to stockholders from its CEO Pietro Bersani. The letter said in part: "..Kiromic will host a Special Meeting of Stockholders on March 7th, . I encourage all stockholders, as of the January 18, 2023 record date, to vote to approve a reverse stock split at a ratio within a range of 1-for-2 to 1-for-30..the resulting increase in share price from the reverse stock split will not only keep us in compliance with Nasdaq’s continued-listing requirements but will also potentially improve the appeal of our common stock to a broader range of investors, including higher-quality institutional investors. We are proud to have secured funding during a challenging market environment, and your vote is critical in financing our continued progress. I will cover more details about our recent financing and strategy later in this letter, but first I’ll provide regulatory and preclinical updates that are a very encouraging start to the year..Two recently completed preclinical studies demonstrated the safety and efficacy of Deltacel in mice. We are highly encouraged by these early findings and have concluded that these results are sufficient for a robust IND submission package. … The company anticipates the start of activation process for the Deltacel clinical trial in the second quarter of 2023.
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