Xspray Pharma approved for listing on Nasdaq Stockholm
Regulatory press release 2020-03-18
STOCKHOLM – March 18, 2020. Xspray Pharma (Nasdaq First North Growth Market: XSPRAY) announces that Nasdaq Stockholm’s listing committee has approved the company’s application to be listed on Nasdaq Stockholm’s main market. The approval is conditional upon the fulfilment of customary conditions, among others that a prospectus is approved and registered by the Swedish Financial Supervisory Authority (“SFSA”). The trading of the company’s shares on Nasdaq Stockholm’s main market is expected to commence on Friday 27 March 2020, and the last day of trading on Nasdaq First North Growth Market is expected to be Thursday 26 March.
Xspray Pharma’s shares will be 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.
Xspray Pharma has been listed on Nasdaq First North Growth Market since 2017. The company’s Board of Directors and management believes that the listing on Nasdaq Stockholm is a logical and important step in the development of the company. The listing on Nasdaq Stockholm’s main market is expected to further increase the awareness about Xspray Pharma, attract a broader group of investors, and give the company an improved access to the Swedish and international capital markets.
“A listing on the main market has been an important goal for Xspray in 2020. I am pleased that this project has gone well and look forward to the move to a regulated market,” says Per Andersson, CEO of Xspray Pharma.
Xspray Pharma has prepared a prospectus in connection with the admission of trading of the Company’s shares on Nasdaq Stockholm. The prospectus is expected to be approved and registered by the SFSA and published on Xspray Pharma’s website, www.xspraypharma.com, on, or around, Monday 23 March 2020.
For further information, please contact:
Per Andersson, CEO, Xspray Pharma AB
Phone: +46 (0) 706 88 23 48
This is information that Xspray Pharma AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was sent for publication, through the agency of the contact person set out above, on March 18, 2020, at 16:30 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 First North Growth Market Stockholm.
Redeye AB is Xspray Pharma’s Certified Adviser
+46 (0) 8 121 576 90