Radiopharm Achieves Nasdaq Listing of American Depositary Shares
- Trading under ticker symbol RADX
- Complements existing US shareholders (currently holding 21% of Radiopharm)
- No associated capital raising
- Modest admin & financial compliance overheads
SYDNEY, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Radiopharm Theranostics (ASX:RAD, “Radiopharm” or the “Company”), a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for areas of high unmet medical need, is pleased to announce that American Depositary Shares (“ADSs”) representing its ordinary shares will commence trading on the Nasdaq Capital Market (“Nasdaq”) on Wednesday morning, 27 November 2024 US time, under the ticker symbol “RADX”. Each ADS represents 300 ordinary shares of the Company.
The listing on Nasdaq follows the declaration of effectiveness by the U.S. Securities and Exchange Commission (“SEC”) of the Company's registration statement on Form 20-F and formal approval from Nasdaq upon meeting its listing requirements. The Nasdaq listing is a secondary listing and complements the Company’s existing primary listing of ordinary shares on the ASX.
The Company completed the Nasdaq listing without an associated capital raise in the United States. Therefore, initial trading of ADSs may be limited due to the time it takes for existing shareholders to deposit their RAD ordinary shares into the ADR program and receive ADSs for trading on Nasdaq. Deutsche Bank Trust Company Americas has been appointed depositary, custodian, and registrar for the Company's American Depositary Receipt program.
"Listing on Nasdaq is a very important strategic milestone for Radiopharm that will help increase our visibility with U.S. and international investors," said Riccardo Canevari, CEO and Managing Director of Radiopharm.
More information regarding the process to deposit the ordinary shares into the ADR program and receive ADSs is included in the Company’s announcement made to the ASX on 19 September 2024.
About Radiopharm Theranostics
Radiopharm Theranostics is a clinical stage radiotherapeutics company developing a world-class platform of innovative radiopharmaceutical products for diagnostic and therapeutic applications in areas of high unmet medical need. Radiopharm has been listed on ASX (RAD) since November 2021. The company has a deep pipeline of highly differentiated molecules spanning peptides, small molecules and monoclonal antibodies for use in cancer, in pre-clinical and clinical stages of development. The pipeline has been built based on the potential to be first-to-market or best-in-class. The clinical program includes one Phase II and two Phase I trials in a variety of solid tumour cancers including brain, lung, breast and pancreas. Learn more at .
Authorized on behalf of the Radiopharm Theranostics Board of Directors by Executive Chairman Paul Hopper.
For more information:
Riccardo Canevari
CEO & Managing Director
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Matt Wright
NWR Communications
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