On Wednesday, TC BioPharm (Holdings) PLC (NASDAQ: TCBP ) announced that its Board of Directors approved a special dividend of 0.25 American Depositary Shares for every 1 ADS held by shareholders, pending shareholder approval.

The company intends to hold a general meeting of shareholders on Monday, December 30.

The dividend is expected to be declared on December 30, 2024, and payable to shareholders who own the company's stock at the close of trading on January 02, 2025.

"We are extremely pleased to announce this special dividend, our shareholders have been supportive of the company through a difficult capital markets environment, including the Company being the target of a nefarious and false short and distort campaign," said Bryan Kobel, CEO of the Company.

TC BioPharm is a clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing gamma-delta T-cell therapies for cancer with human efficacy data in acute myeloid leukemia.

Gamma-delta T cells are naturally occurring immune cells that embody properties of both the innate and adaptive immune systems and can intrinsically differentiate between healthy and diseased tissue.

The company is conducting two investigator-initiated clinical trials for its unmodified gamma-delta T cell product line—a Phase 2b/3 pivotal trial in the treatment of acute myeloid leukemia using the company's proprietary allogeneic CryoTC technology to provide frozen products to clinics worldwide.

Price Action: At last check on Wednesday, TCBP stock was down 1.94% to $0.46 during the premarket session.

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This article EXCLUSIVE: Penny Stock TC BioPharm Proposes Special Stock Dividend originally appeared on Benzinga.com

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