Yesterday, the stock price of KEDEM PHARMACEUTICALS INC (OTC:GHLVD) increased 37.50% to $0.11 on a volume of 5000 shares. The trading activity was not much higher than the daily average which is 4669 shares.
GHLVD has recently gone through several changes which are reflected by the letter D at the end of the ticker symbol.
First of all, the company had undergone a 1 for 20 reverse stock split in September. As a result, the total number of authorized shares decreased from 1 billion to 50 million and its outstanding shares were decreased from 196 million to 9,816,660.
Furthermore, in September the company had finished a merger with Kedem Pharmaceutical Inc. and subsequently had adopted the name of the acquired company leaving behind the former name Global Health Ventures Inc.
Kedem Pharmaceutical Inc. is actually a subsidiary of the former Global Health ventures, which was incorporated with the sole purpose of effecting the name change. Therefore, the merger had affected neither GHLVD’s articles of incorporation, nor its corporate structure.
The company will keep the symbol GHLVD until Dec 6, 2011. On that date the symbol will revert to GHLV. However, on Dec 20, 2011 the company’s symbol will change permanently to KDMP as indicated by the latest press release by the company.
