Trading in Xspray Pharma’s shares commences today on Nasdaq Stockholm
Press release 2020-03-27
STOCKHOLM – March 27, 2020. Xspray Pharma AB (Nasdaq Stockholm: XSPRAY) announces today the commencement of trading in the company’s shares on Nasdaq Stockholm's main market.
“We are very excited about the move to the main market. This is a natural step as we approach a new phase in the company’s development and move towards commercialization of our first product. Being listed on a regulated market increases our chances to become an interesting investment for more institutional owners and international specialist investors in biotech”, said Per Andersson, CEO of Xspray.
Xspray Pharma’s shares are traded in the Small Cap segment under the same ticker (XSPRAY) and ISIN code (SE0009973563). No new shares will be issued in connection with the listing. Shareholders of Xspray Pharma do not need to take any action in connection with the listing on Nasdaq Stockholm Main Market.
For further information, please contact:
Per Andersson, CEO, Xspray Pharma AB
Phone: +46 (0) 706 88 23 48
The information was sent for publication, through the agency of the contact person set out above, on March 27, 2020, at 8:45 CET.
About Xspray Pharma
Xspray Pharma AB (publ) is a product development company with multiple product candidates in clinical development. Xspray uses its innovative, patented RightSize technology to develop improved and generic versions of marketed drugs, primarily protein kinase inhibitors (PKIs) for the treatment of cancer. The segment is the second largest in oncology, and drug prices are very high.
The company´s innovative technology allows Xspray Pharma to gain entry as the first competitor to today’s original drugs before the secondary patents expire. Xspray’s goal is to become the leader in the development of improved drugs or generic versions of PKIs already marketed for the treatment of cancer, which numbered to 54 in December 2019. The company’s leading product candidates, HyNap-Dasa, HyNap-Sora and HyNap-Nilo, are stable amorphous versions of the three blockbuster cancer drugs Sprycel® (dasatinib), Nexavar® (sorafenib) and Tasigna® (nilotinib), respectively. The launch of the first product candidate, HyNap-Dasa, is planned to take place in 2021. The substance patent for the original drug Sprycel® (dasatinib) expires at the end of 2020, and the secondary patents in 2026, which offers Xspray’s HyNap-Dasa a period of five years of semi-exclusivity before other competitors gain access to the market.
The company has patented manufacturing technology, equipment and the resulting products. The shares in Xspray Pharma are traded on Nasdaq Stockholm.