aibioBio-Path cancels planned reverse split and approves treasury plan
Tickers BPTH
The company canceled a previously approved 1-30 reverse split and its board approved a digital asset treasury and a share of a court judgment held by its chief executive.
Key facts
- Company
- Bio-Path Holdings, Inc. (OTC: BPTH)
- News type
- Company Updates
- Primary source
- Bio-Path Holdings, Inc. 8-K (2026-05-26)
Bio-Path Holdings, Inc. said in a Form 8-K dated May 26, 2026 that it canceled a previously approved 1-30 reverse stock split. The company's common stock, par value $0.001 per share, is quoted on OTC Pink under the symbol BPTH. The company announced the cancellation in a shareholder update issued on May 14, 2026. The same filing reports board approvals dated May 25, 2026 for a digital asset treasury program and for the company to take assignment of part of a court judgment held by its chief executive.
The canceled reverse split
The filing says that on May 14, 2026, the company issued a shareholder update and announced a repositioning to support growth. In the same update, it added scientific advisors, engaged advisors for introductions to strategic and financial investors, and canceled the 1-30 reverse split that had been approved earlier. The filing does not give a reason for the cancellation. The shareholder update is included as Exhibit 10.1.
The digital asset treasury
On May 25, 2026, the board of directors and the Control Shareholder approved the launch of a digital asset treasury 2.0, described as a program that uses artificial intelligence to trade and accumulate multiple L1 and L2 blockchains with growing on-chain revenues and tokenomics. The same approval covers opening an account with Coinbase or a similar well-capitalized centralized exchange. The company says the account will be used to buy, sell and hold cryptocurrencies obtained through open-market purchases, outside investment, customer payments and/or strategic transactions.
The judgment assignment
The filing also reports that on May 25, 2026, the board approved the assignment to the company of up to $10,000,000.00 of a judgment awarded on 12/05/2023 to Vikram Grover, the company's chief executive. The judgment totals $57,903,750.00, excluding pre-judgment interest of $6,781,877.57 and estimated post-judgment interest of several million dollars. The United States District Court for the Northern District of Illinois issued it in Civil Action No. 1:21-CV-05054, in Vikram Grover v. Net Savings Link, Inc. et al. The filing describes Net Savings Link as a former crypto exchange operator.
The company says consideration for the assignment will be paid in company notes, preferred stock or common shares, at structures and prices to be determined when and as the judgment is monetized. It states that the intent is accretion to shareholders. The filing also says there can be no assurance that Mr. Grover will successfully obtain custodianship over Net Savings Link and the related entities, which would be needed to effect a transaction with the company. The final court order dated 09/05/2024 is included as Exhibit 10.2.
Grover signed the filing as chief executive officer, chief financial officer and director.
Financial background
The annual report on Form 10-K filed March 27, 2025, for 2024, reports research and development expense of $7.3 million for 2024 and $11.6 million for 2023. The net loss was $9.9 million for 2024 and $16.1 million for 2023. Cash from operations was negative $10.6 million in 2024 and negative $11.5 million in 2023.
The company's quarterly report filed May 20, 2026 reports year-end 2024 cash and cash equivalents of $1.2 million and cash and cash equivalents of $12,000 at March 31, 2026.
The risks ahead
The filing gives no dates for the repositioning, the advisory introductions or the digital asset treasury launch, and it gives no reason for dropping the reverse split. Cash was $12,000 at March 31, 2026, against negative operating cash flow of $10.6 million in 2024. The judgment assignment depends on Mr. Grover gaining custodianship over Net Savings Link and the related entities, the filing says there is no assurance he will, and the judgment is held by the company's own chief executive. Payment would come in company notes, preferred stock or common shares, with terms set when the judgment is monetized, which could add shares. The company says it intends the deal to benefit shareholders.