Viralytics commences trading on OTCQX
Viralytics (ASX:VLA) has commenced trading on the OTCQX International, as part of the company’s efforts to build support in the US market.
Viralytics American Depository Receipts (ADRs) will trade on the OTCQX under the ticker code VRACY. Each ADR is worth three ordinary shares.
The OTCQX International is a division of the OTCQX designed to grant US investors access to non-US companies. To list, companies must be willing to undergo management reviews and share their domestic disclosures with US investors.
Roth Capital Partners will serve as Principal American Liaison to Viralytics. The investment banking firm will provide guidance on OTCQX matters including disclosure requirements.
Viralytics CEO Dr Malcolm McColl said trading on the OTCQX “is part of a broader strategy to promote the company and our technology in the United States. Whilst joining OTCQX is a logical next step in the growth of Viralytics, we remain committed to our ASX listing and Australian investors who continue to support the company.”
The company is at the phase II trial stage for its lead product, oncolytic virus Cavatak, in late-stage melanoma.
A separate trial involving intravenous delivery of Cavatak in melanoma, prostate, lung or metastatic bladder cancers is at the planning stage.
Viralytics shares were trading 1.69% higher at $0.30 as of around 3.30 pm on Monday.
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