---
title: "BiomX Cancels Conversion Shares to Restore NYSE Compliance"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/292362835.md"
description: "BiomX canceled 1,013,637 conversion shares to restore NYSE American compliance. The cancellation followed a requirement for shareholder approval triggered by aggregating an acquisition and credit line under Section 712. BiomX plans to seek this approval at a future meeting to maintain its listing status."
datetime: "2026-07-10T21:29:30.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/292362835.md)
  - [en](https://longbridge.com/en/news/292362835.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/292362835.md)
---

# BiomX Cancels Conversion Shares to Restore NYSE Compliance

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BiomX ( (PHGE) ) has provided an announcement.

On April 13, 2026, BiomX Inc. completed the acquisition of a 60% stake in Dr. Frucht Systems Ltd. from Mandragola Ltd., alongside a revolving credit line of up to $2 million, which later led to the June 2, 2026 issuance of 1,013,637 restricted shares upon partial conversion of a $379,000 promissory note. NYSE American determined that the acquisition and credit line should be aggregated under Section 712, triggering a requirement for shareholder approval because the equity issuances could exceed 20% of BiomX’s pre-transaction outstanding common stock.

To regain compliance with Section 712, BiomX and the holders agreed to cancel all 1,013,637 conversion shares, a process completed on July 10, 2026, with the shares returned to treasury and no longer outstanding. The company plans to seek shareholder approval for the issuances tied to the acquisition and credit facility at a future meeting, and the outcome will influence its ability to maintain NYSE American listing compliance and proceed with the previously structured financing and ownership arrangements.

The most recent analyst rating on (PHGE) stock is a Buy  
with a $26.00 price target.  
To see the full list of analyst forecasts on BiomX stock,  
see the PHGE Stock Forecast page.

**Spark’s Take on PHGE Stock**

According to Spark, TipRanks’ AI Analyst, PHGE is a Neutral.

The score is driven primarily by very weak financial performance (no revenue, persistent losses, and ongoing cash burn with negative equity), reinforced by bearish technical trends (price far below key moving averages and negative MACD). Corporate events provide some offset via the strategic shift and acquisitions, but listing-compliance and dilution risks keep the overall risk profile elevated, while valuation metrics offer no meaningful support due to losses and no dividend yield.

To see Spark’s full report on PHGE stock,  
click here.

**More about BiomX**

BiomX Inc. is a publicly traded company listed on the NYSE American that engages in corporate transactions including acquisitions and related financing arrangements. Its activities include acquiring controlling interests in other businesses and structuring credit facilities that may involve issuances of common stock or convertible securities subject to exchange listing rules and shareholder approvals.

**Average Trading Volume:** 7,738,468

**Technical Sentiment Signal:** Sell

**Current Market Cap:** $3.25M

### Related Stocks

- [PHGE.US](https://longbridge.com/en/quote/PHGE.US.md)
- [RANK.US](https://longbridge.com/en/quote/RANK.US.md)

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