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Pharmaxis Lists ADRs on NASDAQ
23 / 08 / 2005
Pharmaxis Ltd (ASX:PXS), announced today that it has received approval from NASDAQ to list its American Depositary Receipts (ADRs) on the NASDAQ National Market under the symbol PXSLY (CUSIP number: 71715J 10 5). No new shares will be issued in conjunction with the listing and one ADR will continue to be equivalent to 15 Pharmaxis ordinary shares. The Bank of New York remains the depositary bank.
Dr Alan Robertson, Chief Executive Officer at Pharmaxis said: "Our NASDAQ listing is important to Pharmaxis. The US capital markets are home to the majority of the world's emerging pharmaceutical companies and Pharmaxis will benefit from access to this market and coverage by US stock analysts.
This is another step in the globalisation of our products and the
internationalisation of our Australian based business".
The NASDAQ approval is subject to the company's registration statement (Form 20-F) being declared effective by the US Securities and Exchange Commission (SEC). The registration statement has been reviewed by the SEC under a confidential filing regime available to first time foreign applicants.
The final Form 20-F was publicly filed overnight using the SEC's "Edgar" reporting system and the SEC has indicated that the Form 20-F should be processed and the ADRs registered on or about Thursday 26 August.
Trading in Pharmaxis ADRs on NASDAQ should be possible immediately the ADRs are registered.
A copy of the Form 20-F registration statement filed with the SEC is available on the Pharmaxis website.
To find out more about Pharmaxis, go to http://www.pharmaxis.com.au.
Dr Alan Robertson, Chief Executive Officer at Pharmaxis said: "Our NASDAQ listing is important to Pharmaxis. The US capital markets are home to the majority of the world's emerging pharmaceutical companies and Pharmaxis will benefit from access to this market and coverage by US stock analysts.
This is another step in the globalisation of our products and the
internationalisation of our Australian based business".
The NASDAQ approval is subject to the company's registration statement (Form 20-F) being declared effective by the US Securities and Exchange Commission (SEC). The registration statement has been reviewed by the SEC under a confidential filing regime available to first time foreign applicants.
The final Form 20-F was publicly filed overnight using the SEC's "Edgar" reporting system and the SEC has indicated that the Form 20-F should be processed and the ADRs registered on or about Thursday 26 August.
Trading in Pharmaxis ADRs on NASDAQ should be possible immediately the ADRs are registered.
A copy of the Form 20-F registration statement filed with the SEC is available on the Pharmaxis website.
To find out more about Pharmaxis, go to http://www.pharmaxis.com.au.