Xspray Pharma prepares for listing on main list
Regulatory press release 2018-10-25
STOCKHOLM, SWEDEN – October 25, 2018. Xspray Pharma (Nasdaq First North: XSPRAY) today announced the decision of the company's board of directors that Xspray will apply for listing of the company's share on Nasdaq Stockholm's main list. The list change is expected to take place within 12 months and is made to improve the prerequisites for a broader ownership base.
The company’s board and management will now initiate the work required to prepare the company for listing on the main list. The goal is to complete the up-listing within the next twelve months.
“We feel that Xspray is mature for a listing on the main list. It increases the company’s ability to attract institutional owners as well as international specialist investors in biotech. It further supports continued efforts on the company’s long-term goal of developing a portfolio including up to seven PKI products,” says Michael Wolff Jensen, chairman of Xspray Pharma.
Xspray Pharma was founded in 2003 and the share has been listed on Nasdaq First North since September 28, 2017. With its innovative technology, Xspray Pharma develops improved versions of already marketed drugs, primarily protein kinase inhibitors (PKIs) for the treatment of cancer, and the company has several product candidates in clinical development.
“It feels great that we are taking this step now, as our recently presented data has brought us closer to the commercialization phase. The up-listing is a natural step that can also generate increased national and international attention for Xspray going forward, “says Per Andersson, CEO of Xspray Pharma.
Xspray Pharma has retained the law firm Vinge as legal advisor for the planned list change. The company’s auditor is Grant Thornton Sweden AB.
For further information, please contact:
Per Andersson, CEO, Xspray Pharma AB
Mobile: +46 (0) 706 88 23 48
This information is inside information that Xspray Pharma AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10.10 p.m. CET on 25 October 2018.
About Xspray Pharma
Xspray Pharma AB (publ) is a product development company with several product candidates in clinical development. Xspray Pharma uses its innovative patented RightSize technology to develop improved generic versions of marketed drugs, primarily protein kinase inhibitors (PKIs) for the treatment of cancer. The segment is the second-largest in the field of oncology and drugprices are high. Through its innovative technology, Xspray Pharma’s strategy is, through outlicensing to an appropriate pharmaceutical company, to enter the market as first competitor to the original drugs before the exclusivity from secondary patents expires. Three PKIs have been identified as the initial product candidates (HyNap-Dasa, HyNap-Sora and HyNap-Nilo). Xspray Pharma’s goal is to have up to seven products ready for launch in the US market, where the first product to launch in 2021 will be HyNap-Dasa. The substance patents for Sprycel (dasatinib) expire in 2020 and the secondary patents expire in 2026, which can give Xspray Pharma’s HyNap-Dasa a five-year period of special position before other competitors get 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 Stockholm. The company’s Certified Adviser is Redeye AB, www.redeye.se.