Enlivex announces 1-for-16 reverse share split effective October 27, 2026

The split terms

Enlivex Ltd. (Nasdaq: ENLV) announced on October 22, 2026 a 1-for-16 reverse split of its ordinary shares, effective October 27, 2026. From that date the shares trade on the Nasdaq Capital Market on a split-adjusted basis, and every 16 ordinary shares combine into one. Issued and outstanding ordinary shares fall from 24,511,905 to about 1,531,995, subject to rounding. Authorized ordinary shares are cut from 158,333,333 to 9,895,833. The par value of each share rises from NIS 6.00 to NIS 96.00. No fractional shares will be issued, and fractions are rounded up to the nearest whole share. The exercise prices and share numbers for outstanding warrants and options are adjusted in proportion. The company says the split will not change any shareholder's ownership percentage, apart from rounding, or alter voting rights. The new CUSIP number is M4130Y205. VStock Transfer, LLC is the exchange agent and will send instructions to holders of record on how to exchange their certificates. The release does not mention a Nasdaq bid price notice or a compliance deadline. It gives no reason for the split beyond the mechanics described above.

What the company is building

The release describes Enlivex as a quality longevity company powered by a prediction markets treasury, and it says the company is advancing Allocetra, an advanced clinical-stage immunotherapy aimed at inflammatory conditions linked to aging, with a primary focus on age-related osteoarthritis. The 20-F filed on March 25, 2026 says the company received FDA clearance in March 2026 for the IND of a Phase IIb global, randomized, double-blind, placebo-controlled trial of intra-articular Allocetra injections in age-related primary knee osteoarthritis. It expects three-month and six-month topline data in the second quarter and third quarter of 2027. The release's risk language refers to RMAT designation for Allocetra, and says that designation may not speed review or raise the chance of approval. The treasury side is built on RAIN, a token of a prediction markets protocol on the Arbitrum network. The 20-F says the company acquired RAIN under a treasury reserve policy launched on November 24, 2025, and gives the fair value of the digital asset treasury at December 31, 2025 as $606.781 million.

Cost cuts and the funding gap

The release's forward-looking statements refer to a cost reduction plan, with expected reductions in operating expenses and cash burn, and to restructuring charges tied to it. The company's risk language says the plan may not achieve the expected savings, may take longer than expected, and may disrupt the Phase 2b trial. The same language names the risk that the company cannot obtain additional financing on acceptable terms, or at all, to fund the Phase 2b trial through topline data. The 20-F gives the financial base. Cash and cash equivalents were $1.9 million at December 31, 2025, down from $3.3 million a year earlier. Cash used in operations was $10.4 million in 2025, against $13.0 million in 2024. Research and development expense was $9.2 million in 2025, against $10.6 million in 2024. The company reported net income of $1.24 billion for 2025, against a net loss of $15.0 million for 2024. Set against that, the treasury is valued at $606.781 million, but that is a fair value figure for digital assets, not cash the company can spend on trials. The release does not say how the company plans to fund operations after the cost cuts.

What comes next

The split takes effect on October 27, 2026, and the shares keep the ENLV ticker. Under the 20-F, the Phase IIb topline data are expected in 2027. The release names the ability to obtain additional financing to fund that trial through topline data as a risk.

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