Navigation Links
Pharmaxis to Voluntarily De-List from Nasdaq

SYDNEY, July 12 /PRNewswire-Asia/ -- Pharmaxis (ASX: PXS; Nasdaq: PXSL) today announced a decision to voluntarily de-list from the Nasdaq Global Market ("Nasdaq").

Pharmaxis has recently completed a review of the demand from existing and potential international investors for the secondary listing of its American Depositary Shares ("ADS's") on Nasdaq and the volume of Pharmaxis ADS trading in the secondary Nasdaq market. The review concluded that the benefits of the Nasdaq listing could no longer justify the related ongoing costs.

Pharmaxis will file a Form 25 with the SEC on 23 July 2009 to commence the Nasdaq delisting process. It is expected that the de-listing will take effect at the close of trading of Nasdaq on 3 August 2009. Pharmaxis will then file a Form 15F with the U.S. Securities and Exchange Commission ("SEC") to terminate its registration and to suspend its reporting obligations under the Securities Exchange Act of 1934.

The Company's primary listing on the Australian Securities Exchange will continue without change. While the Company's securities will not be listed on any exchange in the United States after the deregistration process is complete, Pharmaxis intends to retain its Level 1 ADS program. Pharmaxis ADS will therefore continue to trade in the U.S. "over the counter" market. There are no costs associated with retaining the Level 1 ADS program.

All ADS holders will shortly receive a formal notice advising them of the change in the program and providing instructions on how to proceed. The anticipated timetable for the de-listing from NASDAQ and downgrade of the ADS program is set out as follows (New York time):

     3 August 2009 - Termination of NASDAQ listing and change of ADS program
     3 August 2009 - Registration with the SEC suspended
     21 October 2009 - Deregistration with the SEC effective


     David McGarvey
     Chief Financial Officer
     Tel:  +61-2-9454-7200


     Felicity Moffatt
     Tel:   +61-418-677-701

     United States:
     Brandon Lewis
     Trout Group
     Tel:   +1-646-378-2915

SOURCE Pharmaxis Ltd
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Phase III Trial Finds Pharmaxis Bronchitol Effective
2. Pharmaxis Announces Placement of $50 Million and Share Purchase Plan
3. Pharmaxis Closes Share Purchase Plan
4. Pharmaxis Appoints Portuguese Distributor for Aridol
5. Pharmaxis Aridol Gains First Asian Approval
6. Pharmaxis Investor Conference Call
7. Pharmaxis to Apply to Market Bronchitol in Australia
8. Pharmaxis First Steps into China
9. Pharmaxis Aridol Authorised for Sale in Germany
10. New Pharmaxis Board Appointment
11. Pharmaxis Research Programs Highlighted at European Respiratory Society Congress
Post Your Comments:
(Date:6/27/2016)... Ginkgo Bioworks , a leading organism design company ... as one of the World Economic Forum,s Technology ... companies. Ginkgo Bioworks is engineering biology to manufacture ... the nutrition, health and consumer goods sectors. The ... Fortune 500 companies to design microbes for their ...
(Date:6/24/2016)... Epic Sciences unveiled a liquid biopsy ... PARP inhibitors by targeting homologous recombination deficiency (HRD) ... test has already been incorporated into numerous clinical ... Over 230 clinical trials are investigating ... PARP, ATM, ATR, DNA-PK and WEE-1. Drugs targeting ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Researchers at the ... commonly-identified miRNAs in people with peritoneal or pleural mesothelioma. Their findings are the subject ... it now. , Diagnostic biomarkers are signposts in the blood, lung fluid or ...
(Date:6/23/2016)... ... June 23, 2016 , ... UAS LifeSciences, one of ... their brand, UP4™ Probiotics, into Target stores nationwide. The company, which has been ... Target to its list of well-respected retailers. This list includes such fine stores ...
Breaking Biology Technology:
(Date:5/20/2016)... 20, 2016  VoiceIt is excited to announce ... By working together, VoiceIt and VoicePass ... and VoicePass take slightly different approaches to voice ... security and usability. ... new partnership. "This marketing and technology ...
(Date:4/28/2016)... and BANGALORE, India , April 28, 2016 ... a product subsidiary of Infosys (NYSE: INFY ), ... a global partnership that will provide end customers ... mobile banking and payment services.      (Logo: ... innovation area for financial services, but it also plays a ...
(Date:4/15/2016)... CHICAGO , April 15, 2016  A ... companies make more accurate underwriting decisions in a ... offering timely, competitively priced and high-value life insurance ... health screenings. With Force Diagnostics, rapid ... and lifestyle data readings (blood pressure, weight, pulse, ...
Breaking Biology News(10 mins):