Propanc Biopharma Board Authorizes $5 Mln Share Repurchase Program, Stock Up In Pre-Market

(RTTNews) - Thursday, Propanc Biopharma, Inc. (PPCB) announced that its board has approved a share repurchase program, authorizing the company to repurchase up to $5.0 million of its common stock.

The company expects the program to allow the shareholders to continue to increase their ownership in its underlying assets, improve per share economics over time, and signal management's confidence in the long-term value of the business.

Moreover, CEO James Nathanielsz stated that the decision reflects the company's commitment to disciplined, flexible capital allocation.

In the pre-market hours, PPCB is trading at $2.87, up 114.23 percent on the Nasdaq.