Pharmos Corporation to List on EASDAQ
ISELIN, N.J., April 11 /PRNewswire/ -- Pharmos Corporation (Nasdaq: PARS) today announced that its common stock has been admitted to trading on EASDAQ and will begin trading on April 19, 2000 under the symbol "PHRM." Pharmos will continue to trade on Nasdaq under the ticker symbol "PARS." No additional shares of Pharmos common stock will be issued in connection with its EASDAQ listing.
Pharmos' decision to list on EASDAQ is based largely on the Company's interest in reaching investors outside the U.S., and enhancing the liquidity of its stock. Robert W. Cook, Pharmos' V.P. of Finance and CFO, said, "Pharmos' listing on EASDAQ, the largest pan-European exchange, is a logical step for the Company. The listing will better serve our existing non-US shareholders and will provide increased access to a broad base of investors across Europe and in Israel who prefer to trade in their own time zone." EASDAQ uses a multiple market maker system to promote investor interest, support continuous trading, and ensure liquidity.
"Our new listing is quite timely, occurring as we are preparing our European clinical study with dexanabinol for severe head trauma, and are anticipating approval of our first ophthalmic product, Loterox(TM), in Europe later this year," said Gad Riesenfeld, President and COO.
Pharmos Corporation is a bio-pharmaceutical company that develops and commercializes products for the ophthalmic, central nervous system, neurological and other key healthcare markets. Driven by its mission to develop drugs with superior safety and efficacy profiles, the Company utilizes advanced methods of drug design, combinatorial chemistry and compounds screening. The result of these efforts is a rich and diverse product pipeline that includes: marketed products with superior therapeutic indexes, and drug candidates with enhanced molecular structures that display improved safety and/or efficacy properties compared to the parent molecules or to competing products. |
