Antisense company now trading on NASDAQ. Only thing I know about it is the following PR.
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Antisense Therapeutics Announces Launch of Level 1 American Depository Receipt Program
prnews
MELBOURNE, Australia, Jan. 13 /PRNewswire-FirstCall/ -- Antisense
Therapeutics Limited (ASX: ANP) today announced that its Level One American
Depositary Receipt (ADR) program has been declared effective by the US
Securities and Exchange Commission. The Bank of New York was appointed as the
depositary bank for the ADR program.
A Level One ADR program facilitates the purchase of Antisense Therapeutics
shares by US investors. Under the program, one ADR is equivalent to 20
ordinary shares of Antisense Therapeutics. The ADR's trade in the US
over-the-counter (OTC) market under the symbol ATHJY (CUSIP number 037183100).
Mark Diamond, CEO of Antisense commented: "We remain focused on extending
Antisense's international presence and hope to capitalize on milestone
achievements by making investing easier for existing and potential US
investors."
The Company recently announced the initiation of a Phase 2a clinical trial
of its lead compound, ATL1102, in patients with multiple sclerosis (MS).
ATL1102 is a second-generation antisense inhibitor of an immune system protein
called VLA-4 (alpha-4 integrin chain; CD49d). ATL1102 is designed to block
the synthesis of VLA-4, which is known to play a part in both the onset and
progression of MS.
Antisense Therapeutics has also undertaken a "proof of concept" study of
its ATL1101 compound in patients with psoriasis. ATL1101 is a second-
generation antisense drug designed to block the synthesis of the IGF-1
receptor, a protein involved in the regulation of cell overgrowth in
psoriasis. ATL1101 is being developed as a cream for the topical treatment of
mild to moderate cases of psoriasis.
About ADRs
ADRs are commonly used to facilitate US investors investing in foreign
companies not listed in the USA. An ADR is created when a broker purchases a
company's shares on the home stock market and delivers those to the
depositary's local custodian bank, which then instructs the depositary bank,
The Bank of New York, to issue Depositary Receipts. Depositary receipts may
trade freely, just like any other security, in the over-the-counter (OTC)
market.
About Antisense Therapeutics Limited
Antisense Therapeutics Limited (ASX: ANP) is an Australian publicly listed
biopharmaceutical drug discovery and development company. ANP's mission is to
create, develop and commercialise novel antisense pharmaceuticals for large
unmet markets. Its two most advanced projects target Multiple Sclerosis
(ATL1102), and Psoriasis (ATL1101).
ANP plans to commercialise its pipeline via licensing/collaboration
agreements with major biotechnology and pharmaceutical companies.
ANP's major shareholders include Circadian Technologies Limited
(ASX: CIR), Isis Pharmaceuticals Inc (Nasdaq: ISIS) and Queensland Investment
Corporation.
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