Addex Therapeutics Ltd (SIX: ADXN), a clinical-stage pharmaceutical company pioneering allosteric modulation-based drug discovery and development, today announced the listing of American Depositary Shares (ADSs) representing its ordinary shares on the Nasdaq Stock Market and the declaration by the United States Securities and Exchange Commission (SEC) of its registration statement on Form F1 and F6 becoming effective. The ADSs will be listed for trading on Nasdaq under the symbol "ADXN" on January 29, 2020.
The registration statement was filed to facilitate the creation of a trading market in the United States for ADSs representing the Company's shares and to satisfy its obligations under a registration rights agreement entered into with investors who participated in the Company's March 2018 private placement. Addex has not registered any new issuance of securities and its shares will continue to be admitted to trading on SIX Swiss Exchange.
Should shareholders wish to exchange their shares into ADSs, Addex has provided instructions intended to guide shareholders through the process and answer related frequently asked questions.