NeuroVive share upgraded on OTC market in US
NeuroVive Pharmaceutical AB (publ), the mitochondrial medicine company, has announced that the company’s share has been upgraded from trading on the OTC Grey Market to OTC Pink in the US. The upgrade implies increased accessibility and transparency, and improves the potential to attract interest from US investors. This is in line with the company’s strategy to increase its presence in the US, the world’s largest pharmaceuticals market.
Since March 2014, US investors have been able to trade electronically in the NeuroVive share in USD on the OTC Grey Market without requiring a Swedish broker or foreign exchange to SEK. However, shares on the OTC Grey Market are not publicly quoted by all brokers, as they are not included in any of OTC Markets’ three main categories (OTC QX, OTC QB and OTC Pink), which means that the regulatory requirements are less stringent and interest in the shares is usually less extensive.
The upgrade to OTC Pink increases the NeuroVive share’s exposure in the US and enables the company to publish press releases through OTC’s news service, for example, which is likely to increase interest in the company generally and attract more US investors.
”We’ve been focusing on increasing awareness of the NeuroVive share in the US, by measures including strengthening the ownership structure, and our efforts are now starting to pay off. In May, we completed a private placement aimed at high-profile US institutional investors, and one of our objectives was to raise the company’s status in North America,” commented NeuroVive’s CEO Mikael Brönnegård.
OTC Pink is subdivided into three categories based on the companies’ disclosure requirements, and NeuroVive is included in the top tier Current Information category.
”In addition to increased visibility and accessibility for US investors, the upgrade also means that we’ll be subject to more stringent financial reporting requirements. This implies increased transparency towards the market, which is something we welcome,” Mikael Brönnegård continued.
The NeuroVive share is registered with OTC’s reporting service for foreign securities in New York under the ticker symbol NEVPF:US. NEVPF’s share price can be monitored at www.otcmarkets.com or through US brokers.
OTC Markets Group’s Open, Transparent and Connected financial marketplaces provide investors with the information necessary to intelligently analyze, value and trade 10,000 US and global securities through the broker of their choice. OTC consists of three main categories: OTC QX, OTC QB and OTC Pink and also offers trading through OTC BB and OTC Grey Market.
NeuroVive Pharmaceutical AB (publ), the mitochondrial medicine company, is developing a portfolio of products to treat acute cardiovascular and neurological conditions through mitochondrial protection. NeuroVive’s drug candidate CicloMulsion® is currently being evaluated in a phase III study on treatment following myocardial infarct (CIRCUS), and in a phase II study on acute kidney injury (CiPRICS). NeuroVive’s drug candidate NeuroSTAT® is currently being evaluated in a phase II study on traumatic brain injury. NeuroVive’s research programs also include development of drug substances for the treatment of brain cell injury in stroke, and cellular protection and mitochondria-related energy regulation diseases. NeuroVive’s shares are listed on NASDAQ OMX, Stockholm, Sweden.
For Investor Relations and media questions, please contact:
Ingmar Rentzhog, Laika Consulting, Tel: +46 (0)46 275 62 21 or email@example.com
It is also possible to arrange an interview with NeuroVive’s CEO Mikael Brönnegård or COO Jan Nilsson at the above contact.
NeuroVive Pharmaceutical AB (publ)
Medicon Village, SE-223 81 Lund, Sweden
Tel: +46 (0)46 275 62 20 (switchboard), Fax: +46 (0)46 888 83 48
NeuroVive Pharmaceutical AB (publ) is required to publish the information in this news release under The Swedish Securities Market Act. The information was submitted for publication on 26 June 2015, at 08.30 a.m. CET.
NeuroVive Pharmaceutical AB (publ) - the mitochondrial medicine company. The company is listed on NASDAQ OMX Stockholm, Small Cap, under the ticker symbol NVP. The share is also traded on the OTC market in the US. NeuroVive Pharmaceutical (OTC: NEVPF) trades on the OTC Pink Market. Investors can find Real-Time quotes and market information for the company at www.otcmarkets.com/stock/NEVPF/quote