Why NuCana (NCNA) Shares Are Trading Lower

NuCana plc (NASDAQ: NCNA ) shares are trading lower by 15.2% to $0.26 during Thursday’s session after the company late Wednesday said it intends to adjust the ratio of its American Depository Shares (ADSs) to its ordinary shares from 1:1 to 1:25, effective around April 16 . This change is akin to a one-for-twenty-five reverse ADS split and aims to enhance liquidity in the company’s ADSs and meet Nasdaq’s minimum bid price requirement. Holders of certificated ADSs must surrender their shares for exchange, ... Full story available on Benzinga.com