Roquefort Therapeutics PLC Commencement of Trading on US OTCQB Venture Market (5622S)
July 15 2022 - 2:00AM
UK Regulatory
TIDMROQ
RNS Number : 5622S
Roquefort Therapeutics PLC
15 July 2022
15 July 2022
Roquefort Therapeutics plc
("Roquefort Therapeutics" or the "Company")
Commencement of Trading on US OTCQB Venture Market
Roquefort Therapeutics (LSE:ROQ), the Main Market listed biotech
company focused on early-stage opportunities in the biotechnology
sector, is pleased to announce that trading in the Company's
Ordinary Shares of one pence each ("Ordinary Shares") has commenced
on the OTCQB Venture Market in the United States. The Company's
OTCQB shares have the ticker: ROQAF
There is no associated capital raise with this cross trading and
Roquefort Therapeutics's Ordinary Shares will continue to trade on
its primary listing, the Main Market of the London Stock Exchange,
under the ticker ROQ.
Cross trading on the OTCQB market allows the Company to access
one of the world's largest investment markets to expand its reach
into a broader pool of investors. Roquefort Therapeutics shares
will be available to US investors during US working hours and
priced in US dollars and thus has the potential to enable greater
liquidity in the Company's shares on the London Stock Exchange by
easing cross-border trading for potential US investors. Further
information about the OTCQB market can be found at:
www.otcmarkets.com/learn/market-101
As a Foreign Private Issuer, Roquefort Therapeutics's onboarding
to the OTC Markets is based on satisfaction of the requirements for
OTCQB as applicable to international reporting companies including
satisfaction of the criteria for the exemption under the US
Exchange Act Rule 12g3-2(b) from SEC reporting. The Rule 12g3-2(b)
exemption includes the disclosure obligation to ensure that certain
information made public or distributed under home market
regulations is made publicly available on the company's website or
other electronic information delivery system in English. Thus, the
Company will have no additional reporting obligations and incur
minimal ongoing costs, compared to traditional major exchanges.
As a verified market, the OTCQB offers transparent trading for
companies that have met a minimum bid price test, are current in
their financial reporting and have undergone an annual verification
and management certification process. The cross-trading facility is
provided through OTC Markets Group Inc., located in New York. OTC
Markets operates the world's largest electronic interdealer
quotation system for US broker dealers and offers multiple media
channels to increase the visibility of OTC-listed companies. Online
brokers such as Ameritrade, Fidelity Investments, Tradestation,
Charles Schwab and E-trade all offer OTCQB trades. US investors can
find real-time quotes, market information and access current
company news and developments for Roquefort Therapeutics at
https://www.otcmarkets.com/stock/ROQAF/overview .
Roquefort Therapeutics has appointed MCAP LLP as its OTCQB
Sponsor.
Stephen West, Roquefort Therapeutics Executive Chairman,
commented:
"Joining the OTCQB market provides Roquefort Therapeutics access
to a significant investment market, and with minimal ongoing costs
associated and no additional reporting requirements, is a positive
step forward for the Company. Having cross trading capabilities is
important for the development of Roquefort Therapeutics and we
believe this listing will provide the Company access to US
investors, both institutional and retail, significantly increasing
our exposure and trading liquidity. Our aim is to build a leading
biotech company focused on oncology drugs and we are pleased to be
offering US investors the opportunity to participate in our growth.
"
-Ends-
Enquiries:
Roquefort Therapeutics plc
+44 (0)20 3290
Stephen West (Chairman) 9339
Buchanan (Public Relations)
Ben Romney / Jamie Hooper / George
Beale
+44 (0)20 7466
Optiva Securities Limited (Broker) 5000
+44 (0)20 3411
Christian Dennis 1881
For further information on Roquefort Therapeutics, please visit
www.roquefortplc.com and @RoquefortTherap on Twitter.
LEI: 254900P4SISIWOR9RH34
About Roquefort Therapeutics
Roquefort Therapeutics (LSE:ROQ) is a Main Market listed biotech
company developing products through the pre-clinical phase prior to
partnering or selling to big pharma. The Company is focused on
developing first in class Midkine inhibiting drugs for the
treatment of cancer.
Through extensive research resulting in validation through
publication in over 1,000 scientific publications, Roquefort
Therapeutics has identified the potential to exploit the broad
therapeutic potential of Midkine for a number of clinical
indications of significant unmet needs. Roquefort Therapeutics
holds an exclusive licence to the largest global IP portfolio on
Midkine. The Midkine blocking drug development markets have
significant global market potential (in the multi-billion dollars).
Roquefort Therapeutics's pre-clinical programme is currently
underway with an initial focus on cancer.
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