XTL Biopharmaceuticals Returns to NASDAQ
HERZLIYA, Israel, July 10, 2013 /PRNewswire/ –
XTL Biopharmaceuticals Ltd. (the “Company”) (TASE: XTL), (OTC: XTLBY) announced today
that NASDAQ approved the Company’s listing application and its ADRs will be listed for
trading on NASDAQ under the ticker symbol “XTLB”.
The Company estimates its ADRs will commence trading on NASDAQ in the coming week,
because the Company continued its SEC filing even during the period in which it was traded
OTC in the United States.
Once the listing of the Company’s ADRs, previously traded OTC in the United States, on
NASDAQ is completed, they will begin trading at a 20:1 ratio (20 Ordinary shares of the
Company represent one ADR).
The company’s CEO, Mr. David Grossman, said early this morning: “Our return to trade
on NASDAQ will greatly increase our visibility among the institutional US investors
together with the leading biotechnology companies”.
Deputy CEO and CFO, Mr. Ronen Twito, also said: “Trading on a US primary stock
exchange reflects the Company’s business as well as financial progress, and will open new
opportunities to the Company and its shareholders”.
About XTL Biopharmaceuticals Ltd. (“XTL”)
XTL Biopharmaceuticals Ltd., a biopharmaceutical company, focuses on the acquisition,
development, and commercialization of pharmaceutical products for the treatment of
clinical unmet needs. XTL is focused on late stage clinical development of drugs for the
treatment of multiple myeloma, schizophrenia, and hepatitis C.
XTL’s lead drug candidate, rHuEPO, for the treatment of multiple myeloma blood cancer,
was granted an orphan drug designation from the FDA. rHuEPO has been approved for
marketing by the FDA and has for many years been sold for billions of dollars across the
world for the treatment of severe anemia.
XTL holds more than 30% in Proteologics Ltd. (TASE: PRTL), a drug discovery company,
and controls InterCure Ltd. (TASE: INCR), a company which has disrupted the $42 billion
hypertension industry with the world’s first FDA-cleared, OTC blood pressure treatment
device, RESPeRATE(R) (http://www.resperate.com).
XTL is a public company traded on the Tel Aviv Stock Exchange (TASE: XTL) and its ADRs
are quoted in the US on the Pink Sheets (OTC: XTLBY). XTL shares are included in the
following indices: Tel-Aviv MidCap-50, Tel-Aviv Biomed, Tel-Aviv MidCap, and Tel-Aviv
Investor Relations, XTL Biopharmaceuticals Ltd.
Tel: +972-9-955-7080, Email: email@example.com, http://www.xtlbio.com
SOURCE XTL Biopharmaceuticals Ltd