LAWRENCEVILLE, N.J. and
TEL AVIV, Israel, Nov. 11, 2015 /PRNewswire/ -- Celsion
Corporation (NASDAQ: CLSN), a fully integrated oncology company
focused on the development of a portfolio of innovative cancer
treatments, including directed chemotherapies, immunotherapies and
RNA- or DNA-based therapies for the treatment of cancer and other
difficult-to-treat diseases, announced today that the Tel Aviv
Stock Exchange (TASE) has approved the new listing of Celsion's
shares of common stock, with trading beginning on November 12, 2015.
Based on the current market capitalization, Celsion's shares are
anticipated to be included in two TASE equity indexes: TASE's
TA-BlueTech (a TASE index comprised of the shares included in
TA-Technology Index and the TA-Biomed Index) and TA-Biomed (a TASE
index that tracks all the Biomed sector shares that match the index
criteria).
"We believe that the dual listing on the TASE will help us to
open a new access point for our shares in the Israeli market that
is becoming a center for biomed and emerging technology companies,"
said Michael H. Tardugno, Celsion's
chairman, president and chief executive officer. "The new listing
also offers an opportunity to expand and diversify our shareholder
base by increasing our exposure and improving our accessibility to
Israeli investors."
TASE CEO, Yossi Beinart said, "We welcome Celsion
Corporation to the Tel Aviv Stock Exchange Dual Listing, and
believe that this is a recognition of the Biomed sector's special
position at the Tel Aviv Stock Exchange. Celsion joins a growing
number of cross-listed companies entitling them to significant
benefits including added exposure among Israeli investors,
extension of the trading day and easy access to institutional and
retail investors as well as to global growth companies."
Celsion considers this listing a natural extension of
its recent global expansion into Europe and Israel and its anticipated clinical site
initiation at two prestigious medical centers in Israel for its Phase II Euro-DIGNITY Study
using ThermoDox, the Company's proprietary heat-activated liposomal
encapsulation of doxorubicin for the treatment of recurrent chest
wall breast cancer. The two clinical sites are Technion Israel
Institute of Technology and Rambam Medical Center in Haifa, Israel.
Trading Regulations
Celsion's shares will continue to be listed on the NASDAQ
Capital Market, and will remain subject to the rules and
regulations of the U.S. Securities and Exchange Commission ("SEC")
and NASDAQ Capital Market applicable to listed companies. Under
Israel's local regime for dual
listing, the Company will be able to use the same periodic reports,
financial and other relevant disclosure information that the
Company submits to the SEC and NASDAQ.
Investors should note that the trading on the TASE occurs Sunday
through Thursday from 8:30 am to 4:30
pm Israel time, except on
TASE trading holidays, and trading on the NASDAQ Capital Market
occurs Monday through Friday, 9:30 am to
4:00 pm Eastern Time, except on NASDAQ holidays.
The TASE Clearing House is electronically linked to the
Depository Trust Company, a subsidiary of the Depository Trust
& Clearing Corporation, to automate the cross-border settlement
of shares listed on both the TASE and a U.S. Exchange.
About Celsion Corporation
Celsion is a fully-integrated oncology company focused on
developing a portfolio of innovative cancer treatments, including
directed chemotherapies, immunotherapies and RNA- or DNA-based
therapies. The Company's lead program is ThermoDox®, a proprietary
heat-activated liposomal encapsulation of doxorubicin, currently in
Phase III development for the treatment of primary liver cancer and
in Phase II development for the treatment of recurrent chest wall
breast cancer. The pipeline also includes GEN-1, a DNA-based
immunotherapy for the localized treatment of ovarian and brain
cancers. Celsion has three platform technologies for the
development of novel nucleic acid-based immunotherapies and other
investigational anti-cancer DNA or RNA therapies, including
TheraPlas™, TheraSilence™ and RAST™. For more information on
Celsion, visit our website: http://www.celsion.com.
Celsion wishes to inform readers that forward-looking
statements in this release are made pursuant to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of
1995. Readers are cautioned that such forward-looking
statements involve risks and uncertainties including, without
limitation, unforeseen changes in the course of research and
development activities and in clinical trials, including timing,
enrollment and data; the uncertainties of and difficulties in
analyzing interim clinical data, particularly in small subgroups
that are not statistically significant; FDA and regulatory
uncertainties and risks; the significant expense, time, and risk of
failure of conducting clinical trials; the need for Celsion to
evaluate its future development plans; possible acquisitions or
licenses of other technologies, assets or businesses; possible
actions by customers, suppliers, competitors, regulatory
authorities; and other risks detailed from time to time in the
Celsion's periodic reports and prospectuses filed with the
Securities and Exchange Commission. Celsion assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events, new information or
otherwise.
Celsion Investor Contact
Jeffrey W. Church
Senior Vice President and CFO
609-482-2455
jchurch@celsion.com
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SOURCE Celsion Corporation