STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
NeuroVive Pharmaceutical AB (STO:NVP) stock shares were registered with the OTC Reporting Facility for Foreign shares in New York City with the ticker symbol NEVPF:US on March 20, 2014. NeuroVive trades on the NASDAQ OMX Stockholm (Sweden) Small Cap since April 2013 with ticker symbol NVP.ST. The NEVPF shares have been trading in the United States between $4.00 and $4.21, reflecting the Swedish market value.
NeuroVive Pharmaceutical AB’s inclusion in the Grey Market OTC trading means the share now trades electronically on the US market through domestic American full-service and internet brokerages houses. The NEVPF ticker symbol registration was placed by an American retail brokerage firm.
This extends the NeuroVive stock trading day from the Nordic countries to North America, and by five and half hours until US market closing at 5 p.m. EST (11 p.m. Swedish or Central European Time). OTC trading makes it straightforward for US investors to easily and electronically invest in NeuroVive using US currency, with no need to go through a Swedish brokerage nor convert Swedish krona (SEK). NEVPF share price can be followed at www.OTCmarkets.com, or through any American brokerage house.
This early registration of NeuroVive on the American market occurred because over 4 million NeuroVive shares, or over 15% of all NeuroVive shares are already in American brokerage houses. The majority of NEVPF shares are held at E*Trade Securities LLC by Maas Biolab, LLC, the American company that is the largest shareholder of NeuroVive. Individuals also hold NEVPF shares in other American brokerages and branches including Charles Schwab, Fidelity, Janney Montgomery Scott, Morgan Stanley and UBS.
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NeuroVive Pharmaceutical AB (publ), a leading mitochondrial medicine company, is developing a portfolio of products to treat acute cardiovascular and neurological conditions through mitochondrial protection. These medical conditions are characterized by a pressing medical need and have no approved pharmaceutical treatment options at present. NeuroVive’s products CicloMulsion® (heart attack) and NeuroSTAT® (traumatic brain injury) are currently being evaluated in phase III and phase II studies, respectively. NeuroVive’s research programs also include products for the treatment of anti-viral indications (Hepatitis B/C), brain cell injury in stroke patients, and drug candidates for cellular protection and treating mitochondria-related energy regulation diseases. NeuroVive’s shares are listed on NASDAQ OMX, Stockholm, Sweden.
NeuroVive Pharmaceutical AB (publ)
Medicon Village, SE-223 81 Lund, Sweden
Tel: +46 (0)46 275 62 20 (switchboard), Fax: + 46 (0)46 888 83 48, www.neurovive.com
NeuroVive Pharmaceutical AB (publ) is required to publish the information in this news release under The Swedish Securities Market Act. The information was submitted for publication on 10 April 2014, at 8:30 a.m. CET.
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