Prima BioMed files for NASDAQ listing
Tuesday, 14 February, 2012
Prima BioMed (ASX:PRR) has filed a registration to dual-list in the US, on the NASDAQ stock exchange.
The Sydney-based cancer treatment development company has filed the paperwork with the US Securities and Exchange Commission to list a block of American Depository Receipts (ADRs).
Each ADR to be floated on the NASDAQ Global Market will represent 30 common Prima BioMed shares. The company declined to comment on the expected timing of the US listing.
The process will be managed by the Bank of New York Mellon, Deutsche Bank AG, Noble Financial and Aegis.
Prima BioMed first announced plans for a NASDAQ listing in September 2010, commencing the long road to gaining the required approvals.
Earlier this month, the company enrolled the first participant for an 800 patient trial of its CVac ovarian cancer vaccine.
The company expects to complete enrolment at the 150 centres involved in the trial by the second half of 2013.
Prima BioMed first listed on the ASX in June, 1988. As well as CVac, the company is working on an antibody for Cripto-1 – a protein found in a number of cancers – and an orally administered vaccine for human papillomavirus.
Prima BioMed (ASX:PRR) shares grew 2.8% to $0.185 as Tuesday's close of trading.
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