HERZLIYA, Israel, July 10, 2013 /PRNewswire/ --
XTL Biopharmaceuticals Ltd. (the "Company") (TASE: XTL), (OTC: XTLBY) announced today that NASDAQ approved the Company's listing application and its ADRs will be listed for trading on NASDAQ under the ticker symbol "XTLB".
The Company estimates its ADRs will commence trading on NASDAQ in the coming week, because the Company continued its SEC filing even during the period in which it was traded OTC in the United States.
Once the listing of the Company's ADRs, previously traded OTC in the United States, on NASDAQ is completed, they will begin trading at a 20:1 ratio (20 Ordinary shares of the Company represent one ADR).The company's CEO, Mr. David Grossman, said early this morning: "Our return to trade on NASDAQ will greatly increase our visibility among the institutional US investors together with the leading biotechnology companies". Deputy CEO and CFO, Mr. Ronen Twito, also said: "Trading on a US primary stock exchange reflects the Company's business as well as financial progress, and will open new opportunities to the Company and its shareholders". About XTL Biopharmaceuticals Ltd. ("XTL") XTL Biopharmaceuticals Ltd., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of pharmaceutical products for the treatment of clinical unmet needs. XTL is focused on late stage clinical development of drugs for the treatment of multiple myeloma, schizophrenia, and hepatitis C. XTL's lead drug candidate, rHuEPO, for the treatment of multiple myeloma blood cancer, was granted an orphan drug designation from the FDA. rHuEPO has been approved for marketing by the FDA and has for many years been sold for billions of dollars across the world for the treatment of severe anemia. XTL holds more than 30% in Proteologics Ltd. (TASE: PRTL), a drug discovery company, and controls InterCure Ltd. (TASE: INCR), a company which has disrupted the $42 billion hypertension industry with the world's first FDA-cleared, OTC blood pressure treatment device, RESPeRATE® ( http://www.resperate.com). XTL is a public company traded on the Tel Aviv Stock Exchange (TASE: XTL) and its ADRs are quoted in the US on the Pink Sheets (OTC: XTLBY). XTL shares are included in the following indices: Tel-Aviv MidCap-50, Tel-Aviv Biomed, Tel-Aviv MidCap, and Tel-Aviv Bluetech-50.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV