MARLBOROUGH, Mass.--(BUSINESS WIRE)--August 27, 2014-- Advanced Cell Technology, Inc. ("ACT"; OTCBB: ACTC), a leader in the field of regenerative medicine, today announced that it has completed a 1:100 reverse split of its common stock.
"Completing this reverse stock split is an important step in our plan to improve our corporate structure and establish ACT as a highly-regarded, publicly-traded biotechnology company. With continued progress in many of our clinical and pre-clinical programs, the Lincoln Park equity facility in place and Dr. Wotton's arrival as CEO, this initiative is part of a larger strategy to up-list to a national stock exchange and to raise awareness and visibility with fundamental-based, institutional biotech investors," said Ted Myles, ACT's Chief Financial Officer and Chief Operating Officer.
As a result of the reverse stock split, every 100 shares of the Company's pre-reverse stock split common stock were combined and reclassified into one share of the Company's common stock. Beginning with the opening of trading on August 28, 2014, the Company's common stock will trade on the OTC Markets Group on a reverse stock split adjusted basis.
More information is available in ACT's Current Report on Form 8-K, filed today with the SEC.
About Advanced Cell Technology, Inc.
Advanced Cell Technology, Inc., (ACT) is a clinical stage biotechnology company focused on the development and commercialization of regenerative medicine and cell therapy technology. The company's most advanced products are in clinical trials for the treatment of dry age-related macular degeneration, Stargardt's macular degeneration and myopic macular degeneration. ACT's preclinical programs involve cell therapies for the treatment of other ocular disorders and for diseases outside the field of ophthalmology, including autoimmune, inflammatory and wound healing-related disorders. The company's intellectual property portfolio includes pluripotent stem cell platforms -- hESC and induced pluripotent stem cell (iPSC) -- and other cell therapy research programs. For more information, visit www.advancedcell.com
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