Sydney-based Benitec Biopharma (ASX: BLT) is taking steps towards a possible listing in the United States, confirming that it has submitted a draft registration statement to the US Securities and Exchange Commission for a potential initial public offering in the country of its American Depositary Shares.
Benitec holds global patents for expressed RNA interference (also called DNA-directed RNAi - ddRNAi), positioning the company in the development of therapies associated with specific genes and genetic disorders.
The company recently announced the extension of its dose escalation clinical trial of TT-034 for hepatitis C virus (HCV) infection. TT-034 is a ddRNAi-based therapeutic, designed to treat and potentially cure HCV with a single administration.
The timing, number of shares and price of any proposed offering US have not yet been determined, the company said.
Benitec also confirmed that, should the initial public offering in the United States proceed, the company intends to maintain its listing on the ASX.