TORONTO – Medexus Pharmaceuticals Inc. (TSXV: MDP) (OTCQX: MEDXF) (Frankfurt: P731) announced today that it has submitted its application to list on The Nasdaq Capital Market.
Ken d’Entremont, Chief Executive Officer of Medexus, commented, “The submission of our application to list on the Nasdaq marks a significant milestone for Medexus. We believe we now meet the initial listing requirements, which reflects the success of our ongoing efforts to create a highly scalable business platform with a diversified and growing product portfolio across North America. In fact, we have grown at a 129% CAGR over the past 3 fiscal years alone and are generating very strong cash flow. Given our current trajectory and growth of our U.S-based business that now accounts for more than 74% of total revenues, management and the board of directors are actively working to complete all of the necessary steps to successfully complete the proposed dual listing on Nasdaq. We believe a listing in the U.S. would provide us much greater exposure within the investment community as we execute on key upcoming financial and operational milestones. Our application is currently under review with Nasdaq staff and we intend to provide further updates as developments unfold.”
The listing of the company’s common shares on the Nasdaq remains subject to the approval of the Nasdaq and the satisfaction of all applicable listing and regulatory requirements. While the company intends to satisfy all of the applicable listing criteria, no assurance can be given that its application will be approved. The company plans to maintain its current listing on the TSX Venture Exchange and on the Frankfurt Stock Exchange.
Medexus is focused on the therapeutic areas of auto-immune disease, hematology, and allergy. The company’s leading products are: Rasuvo™ and Metoject®, a unique formulation of methotrexate (auto-pen and pre-filled syringe) designed to treat rheumatoid arthritis and other auto-immune diseases; IXINITY®, an intravenous recombinant factor IX therapeutic for use in patients 12 years of age or older with Hemophilia B – a hereditary bleeding disorder characterized by a deficiency of clotting factor IX in the blood, which is necessary to control bleeding; and Rupall®, an innovative allergy medication with a unique mode of action.
We seek Safe Harbor.