CS MEDICA A/S: Prepare For Listing On Nasdaq Main Market In Denmark
After becoming one of the six first Danish companies to list its shares at Spotlight Denmark, CS MEDICA (“CS MEDICA” or the “Company”) prepares to move to the Nasdaq Main Market in Denmark. Listing on the Main Market (NASDAQ) can increase further visibility and may allow CS MEDICA to be included in both Danish and International indexes.
CS MEDICA (CSMED), a global medtech CBD company specializing in the development and manufacturing of cannabis treatment products for patients worldwide, today announced that its Board of Directors the 31st of August 2022 approved a long-term plan to move its share listing from the Spotlight Denmark Market to the Nasdaq Main Market in Denmark (“Main Market”). CS MEDICA’s admission to trading on the Main Market is subject to an extensive application process, and the company must meet several objectives before the listing, meaning this is a long-term goal for the Company. The company has now initated the process of identifying and evaluating the right financial advisor to assist the company with a long-term market lift.
The Main Market listing can increase a company’s visibility and may result in inclusion in Denmark and International indexes. Starting in September 2022, shares of companies listed on the Danish Main Market may become eligible for the FTSE Global All Cap and related indexes, subject to meeting certain conditions with respect to trading volume and duration of the listing. The selection of shares to be included in the FTSE indexes is revised periodically, every six months.
CS MEDICA’s shares are listed on the Spotlight Stock Market in Denmark under the ticker symbol “CSMED”. CS MEDICA’s shares were admitted to trading in Denmark on 14. September 2021.
“We are looking forward to starting the process preparing the CS MEDICA’s shares to the Main Market in Denmark” says Lone Henriksen, CEO and founder of CS MEDICA.
The Spotlight Market is a multilateral trading facility (“MTF”) governed by a less extensive rulebook than the Main Market. The European Directive 2004/109/EC of 15 December 2004 on transparency requirements for issuers whose securities are admitted to trading on a regulated market (the “Transparency Directive”) does not apply to shares listed on MTFs. If its shares are admitted to trading on the Main Market in Denmark, CS MEDICA will become subject to the supervision from the competent authority and the Exchange (NASDAQ).
“We are happy we launched at Spotlight as a nano/microcap company in an early growth phase, and the support has been outstanding. However, as we have finalized the main clinical trials, we are rapidly reaching international territories with our finished, registered products plus the technology and science behind the formulas and CBD know-how, allowing us to reach further segments. Combined with the fact we have a first mover advantage, being ahead of the competition on registrations from MDD to MDR, we need to capitalize now. Hence, we need to prepare for the next growth phase, and have been recommended to start the process of moving to the Main Market” Lone Henriksen continues.
About CS MEDICA
CS MEDICA is a medtech company founded by Lone Henriksen and Gitte Lund Henriksen, focused solely on developing and manufacturing cannabis treatment products for patients worldwide. CS MEDICA seeks to be a global leader in the cannabinoids treatment space by delivering high quality, cost-effective products, and services, enabled by a fully integrated approach and broad in-house capabilities. CS MEDICA product line is positioned at the intersection of natural products, science, and cannabinoid technology, regulated under the pharmaceutical legislation. CS MEDICA ’s current pipeline contains 21 cannabinoids candidates aimed at treating autoimmune and stress-related disorders, including skin-, musculoskeletal- and reparatory disorders, along with Dermaceuticals. CS MEDICA has a first mover advantage, alone on the market with CBD products registered under MDD, currently under classification update to MDR.
CS MEDICA has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the Europe, United States, Canada, Japan, China, and other Asian countries, and the Middle East. Physical participation in medical fairs and site visits in the US market and Asia is already planned for the upcoming two months (Vitafoods Korea/ASIA) as interests are numerous. Each commercial partnership covers a unique set of product(s) and territories. For more information, please visit www.cs-medica.com.
Info
When listed on the MTF marketplace, applying with the IFRS standards is one of the first steps when preparing for the main market, hence CS MEDICA plan to adopt the IFRS standards at the upcoming annual report for the financial year 2021/2022. Due to the extra work involved, with the IFRS adoption the company must move the annual report to mid-January 2023, and the same applies to the annual general meeting[i]. However, when preparing the Year-end report, which are released the 18th of November 2022, an auditor's review will be included.
There is a lot of objectives to be met before the listing, meaning this is a long-term goal for the Company.
[i] Further notice about the change of dates will be sent out at a later stage.
Disclaimer
Certain statements in this communication may be considered “forward-looking statements.” Forward-looking statements generally relate to future events or the future financial operating performance of CS MEDICA and may include, for example, CS MEDICA’s ability to meet the requirements for listing on the Main Market and to be selected for inclusion in certain indexes, its expectations regarding competitive advantages, business prospects and opportunities including pipeline product development, future plans and intentions, results, level of activities, performance, goals or achievements or other future events, regulatory approvals and market launches, and the estimated size of the total addressable market of CS MEDICA’s pipeline products. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by CS MEDICA and its management, are inherently uncertain and are inherently subject to risks, variability, and contingencies, many of which are beyond CS MEDICA’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against CS MEDICA or others following the business combination between CS MEDICA A/S., CANNNORDIC A/S and Galaxa Pharma a/s; (2) the ability to meet or maintain stock exchange listing standards and standards to be included in certain indexes; (3) changes in applicable laws or regulations; (4) the possibility that CS MEDICA may be adversely affected by other economic, business, and/or competitive factors; (5) CS MEDICA’s estimates of expenses and profitability; (6) CS MEDICA’s ability to develop, manufacture and commercialize the product candidates in its pipeline; (7) actions of regulatory authorities, which may affect the initiation, timing and progress of clinical studies or future regulatory approvals or marketing authorizations; (8) the ability of CS MEDICA or its partners to enroll and retain patients in clinical studies; (9) the ability of CS MEDICA or its partners to gain approval from regulators for planned clinical studies, study plans or sites; (10) the ability of CS MEDICA’s partners to conduct, supervise and monitor existing and potential future clinical studies, which may impact development timelines and plans; (11) CS MEDICA’s ability to obtain and maintain regulatory approval or authorizations of its product candidates, including the timing or likelihood of expansion into additional markets or geographies; (12) the success of CS MEDICA’s current and future collaborations, joint ventures, partnerships or licensing arrangements; (13) CS MEDICA’s ability, and that of its commercial partners, to execute their commercialization strategy for approved products; (14) CS MEDICA’s ability to manufacture sufficient commercial supply of its approved products; (15) the outcome of ongoing and future litigation regarding CS MEDICA’s products and product candidates; (16) the potential impact of the ongoing COVID-19 pandemic on the FDA’s review timelines, including its ability to complete timely inspection of manufacturing sites; and (17) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” that CS MEDICA may from time to time file or furnish with the SEC. There may be additional risks that CS MEDICA does not presently know or that CS MEDICA currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. One should not place undue reliance on forward-looking statements, which speak only as of the date they are made. CS MEDICA does not undertake any duty to update these forward-looking statements or to inform the recipient of any matters of which any of them becomes aware of which may affect any matter referred to in this communication. CS MEDICA disclaims any and all liability for any loss or damage (whether foreseeable or not) suffered or incurred by any person or entity as a result of anything contained or omitted from this communication and such liability is expressly disclaimed. The recipient agrees that it shall not seek to sue or otherwise hold CS MEDICA or any of its directors, officers, employees, affiliates, agents, advisors, or representatives liable in any respect for the provision of this communication, the information contained in this communication, or the omission of any information from this communication.
This disclosure contains information that CS MEDICA A/S is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 19-09-2022 13:57 CET.
For more information about CS MEDICA, please contact:
Gitte Lund Henriksen, CFO
Phone: + (45) 2774 2280
Email: glh@cs-medica.com
Website: https://www.cs-medica.com/
CS MEDICA A/S is a Danish medico cannabis company founded in 2011. CS MEDICA is committed to developing, manufacturing, and commercializing over-the-counter (OTC) medical device products containing cannabinoids. The Company runs its business through the two fully-owned subsidiaries, Galaxa Pharma A/S (distributor and representative of foreign manufacturers in the Nordic, registered medical device product distributor) and CanNordic A/S (Medical device developer and seller (BtB), registered medical device product manufacturer). CS MEDICA distributes products across the European borders and is headquartered in Copenhagen, Denmark.
The company is listed on Spotlight Stock Market in Stockholm (symbol: “CSMED”). For more information about CS MEDICA cs-medica.com.
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