(NASDAQ: HILS) HILLSTREAM BIOPHARMA INC. shares are up more than 48% on a share buyback program of more than $1million dollars of common stock in the open market.

Hillstream BioPharma Announces Share Repurchase Program

BRIDGEWATER, N.J., June 13, 2022 (GLOBE NEWSWIRE) — Hillstream BioPharma, Inc. (Nasdaq:HILS) (Hillstream, the Company), a biotechnology company developing novel therapeutic candidates targeting ferroptosis, an emerging new anti-cancer mechanism resulting in iron mediated cell death for drug resistant and devastating cancers, today announced that its Board of Directors has authorized a share repurchase program to acquire up to $1 million of the Company’s common stock. The Company may purchase common stock on the open market, through privately negotiated transactions, or otherwise, in compliance with the rules of the United States Securities and Exchange Commission and other applicable legal requirements. As of March 31, 2022, Hillstream had approximately $11.1 million in cash and 11.4 million shares of common stock outstanding.

We have demonstrated strong execution and as a result have seen significant advancement of our pipeline, said Randy Milby, Hillstreams Chief Executive Officer. The current market situation allows us to capture additional value for all investors through this measured buyback program. Our interests have always been, and continue to be aligned with our shareholders.

Share Repurchase Program
The timing, amount of shares repurchased and prices paid for the stock under this program will depend on market conditions as well as corporate and regulatory limitations, including blackout period restrictions. The repurchase program does not obligate the Company to acquire any particular amount of shares, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion.

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