Australian radio therapeutics company Radiopharm Theranostics (ASX:RAD) has announced it expects to obtain a secondary listing on the Nasdaq Capital Market by the end of 2024.
The ASX-listed company previously announced that it had initiated the process to obtain a secondary listing on the Nasdaq Capital Market. However, due to market conditions, it delayed the process.
It said the program is part of its ongoing strategy to expand its reach to US institutional and retail investors by enabling them to purchase the company’s shares via a US stock market.
It announced on 25 June that, as part of a $70 million capital raise, it had agreed with certain US institutional investors to seek a listing on Nasdaq by the end of 2024.
Radiopharm said it expects the US Securities and Exchange Commission and Nasdaq to complete their respective review processes by late August.
"We are confident that obtaining a listing on Nasdaq will complement our loyal existing Australian shareholder base by expanding Radiopharm’s access to investors globally, and thereby drive increased shareholder value with enhanced liquidity for all shareholders," said Riccardo Canevari, the CEO and managing director of Radiopharm Theranostics.