05 Aug 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Viralytics' American Depository Receipts (ADRs) have commenced trading on OTCQX International. ADRs trade under the symbol 'VRACY' and each ADR represents three ordinary shares. Viralytics will continue to trade on the ASX under its existing symbol 'VLA'.
OTCQX International is a segment of the OTCQX marketplace, reserved for highquality non-US companies that are listed on a qualified international exchange, undergo management reviews and provide their home country disclosure to US investors.
It provides US-based investors and other groups ready access to company information and announcements that will be released contemporaneously with the ASX. US investors can find current financial disclosures and real-time level 2 quotes for the company on www.otcmarkets.com.
Roth Capital Partners will act as principal american liaison to the company, providing guidance on OTCQX matters including disclosure requirements. Headquartered in California with other international offices, Roth Capital is an investment banking firm specializing in small-caps with a focus on the healthcare sector.
Dr Malcolm McColl, CEO, Viralytics, said that, "We are pleased to be able to take this step to increase our profile in the US at such an exciting stage in the development of Cavatak. Trading on OTCQX is part of a broader strategy to promote the company and our technology in the US. Whilst joining OTCQX is a logical next step in the growth of Viralytics, we remain committed to our ASX listing and Australian investors who continue to support the company."