Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON
EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
Market Information
Our shares of common stock are listed on the Nasdaq
Capital Market (“Nasdaq”), where they have traded under ticker symbol “PMCB” since initial listing on August 10,
2021.
The following table sets forth the high and low
bid quotations reported on Nasdaq through April 30, 2024 for our shares for each quarter during the two fiscal years (“FYs”)
ended April 30, 2024 and 2023. The prices reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily
represent actual transactions.
Bid Price
FY 2024
HIGH
LOW
First Quarter
$ 3.23
$ 2.66
Second Quarter
$ 2.73
$ 1.94
Third Quarter
$ 2.39
$ 1.92
Fourth Quarter
$ 2.58
$ 1.94
FY 2023
First Quarter
$ 2.51
$ 1.95
Second Quarter
$ 3.02
$ 2.33
Third Quarter
$ 3.10
$ 2.70
Fourth Quarter
$ 3.04
$ 2.78
As of August 8, 2024, there were approximately
1,400 stockholders of record of our common stock. The number of stockholders of record does not include beneficial owners of our securities
whose shares are held in the name of various security brokers, dealers and registered clearing agencies.
Dividend Policy
We have not paid and do not plan to pay cash dividends
in the foreseeable future. In addition, the terms of the certificate of designations governing our Preferred Shares presently restricts
our ability to pay dividends. Our Board will decide any future payment of dividends, depending on the results of operations, financial
condition, capital requirements and other relevant factors.
Securities Authorized for Issuance under Equity
Compensation Plans
See Item 12 of Part III of this Report regarding
information about securities authorized for issuance under our equity compensation plans.
Recent Sales of Unregistered Securities
None.
81
Issuer Purchases of Equity Securities
The table below summarizes information about the
Company’s purchases of its equity securities during the year ended April 30, 2024.
Period
Total Number of Shares Purchased
Average Price Paid per Share
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum Number (or Approximate Dollar Value) of Shares That May Yet Be Purchased Under the Plans or Programs
May 1, 2023 – May 31, 2023
–
–
–
$ 6,439,377
June 1, 2023 – June 30, 2023
–
–
–
$ 6,439,377
July 1, 2023 – July 31, 2023
–
–
–
$ 6,439,377
August 1, 2023 – August 31, 2023
–
–
–
$ 6,439,377
September 1, 2023 – September 30, 2023
–
–
–
$ 6,439,377
October 1, 2023 – October 31, 2023
78,109
$ 2.1118
78,109
$ 6.272.775
November 1, 2023 – November 30, 2023
60,695
$ 2.1863
60,695
$ 6.138.751
December 1, 2023 – December 31, 2023
60,072
$ 2.2901
60,072
$ 5.999.807
January 1, 2024 – January 31, 2024
58,066
$ 2.2465
58,066
$ 5.868.058
February 1, 2024 – February 29, 2024
36,482
$ 2.1610
36,482
$ 5,788,433
March 1, 2024 – March 31, 2024
353,480
$ 2.4701
353,480
$ 4,906,583
April 1, 2024 – April 30, 2024
93,573
$ 2.3797
93,573
$ 4,681,682
Total
740,477
$ 2.3502
740,477
$ 4,681,682
On June 2, 2022, the Company announced that the
Board had authorized a share repurchase program to acquire up to $10 million of the Company’s outstanding common stock (the “First
Repurchase Program”). The number of shares of common stock repurchased on any given trading day was determined by a formula, which
was based on the market price of the common stock and average daily volumes. The First Repurchase Program expired on May 30, 2024. On
January 31, 2023, the Board authorized a share repurchase program to repurchase up to an additional $10 million of the Company’s
outstanding common stock (the “Second Repurchase Program” and together with the First Repurchase Program, the “Repurchase
Programs”). Under the Second Repurchase Program, the shares may be repurchased from time to time in open market transactions, privately
negotiated block transactions or other means in accordance with applicable securities laws. For more information on the Repurchase Programs,
see “Note 13 – Treasury Stock.”
ITEM 6. [RESERVED]