PARIS--(BUSINESS WIRE)--Onxeo S.A. (Euronext Paris, NASDAQ Copenhagen: ONXEO), (“Onxeo” or “the Company”), a clinical-stage biotechnology company specializing in the development of innovative drugs targeting tumor DNA Damage response (DDR), in particular against rare or resistant cancers, has received approval for the delisting from Nasdaq Main Market Copenhagen and the concurrent admission to trading on Nasdaq First North Growth Market Denmark.
As described in company announcement on 27 November 2020, Onxeo has applied for admission to trading on Nasdaq First North Growth Market Denmark and the concurrent delisting from Nasdaq Main Market Copenhagen.
Nasdaq Copenhagen has today notified the Company of their approval of the applications.
As a result the last trading day on Nasdaq Main Market Copenhagen will be 11 December 2020 and the first day of trading on Nasdaq First North Growth Market Denmark will be 14 December 2020.
The Company will no longer be subject to the disclosure requirements in the Capital Markets Act (“Kapitalmarkedsloven”) and shareholders will no longer be required to inform about their shareholdings according to the Capital Markets Act. Instead the Company will be subject to the rules of the Nasdaq First North Growth Market Rulebook that does not have the same company disclosure requirements as the Capital Markets Act and does not require shareholders to report their shareholdings in the Company.
The Company will continue to be subject to the rules and requirements of the Market Abuse Regulation.
Purpose of transfer
The purpose of both transfers is to allow Onxeo to be listed on a market which is more suitable to the Company’s size and its market capitalization. The transfers to Euronext Growth Paris and First North Growth Market should provide the Company with a regulatory framework that is better suited to a SME and reduce listing-related costs, while still benefiting from access to the financial markets.
Consequences for Onxeo shareholders
Nasdaq Main Market has the legal status of a regulated market, while Nasdaq First North Growth Market is legally considered a SME Growth Market, which is a Multilateral Trading Facility. Upon transfer from the Main Market to First North Growth Market, rules for Danish shareholders are not changed or different as regards taxes and pensions and there is no consequence on the tax treatment of capital gains and losses.
Non-Danish shareholders may be covered by other tax and pension rules, depending primarily on the tax residence of the shareholder and, among other things, on how and when the shareholder has invested in the company. These shareholders are therefore encouraged to seek independent advice in relation to the tax consequences from their own auditor and advice on pension deposits from their own bank.
Nasdaq First North Growth Market Disclaimer
Nasdaq First North Growth Market is a registered SME growth market, in accordance with the Directive on Markets in Financial Instruments (EU 2014/65) as implemented in the national legislation of Denmark, Finland and Sweden, operated by an exchange within the Nasdaq group. Issuers on Nasdaq First North Growth Market are not subject to all the same rules as issuers on a regulated main market, as defined in EU legislation (as implemented in national law). Instead they are subject to a less extensive set of rules and regulations adjusted to small growth companies. The risk in investing in an issuer on Nasdaq First North Growth Market may therefore be higher than investing in an issuer on the main market. All issuers with shares admitted to trading on Nasdaq First North Growth Market have a Certified Adviser who monitors that the rules are followed. The respective Nasdaq exchange approves the application for admission to trading.
Onxeo (Euronext Paris, NASDAQ Copenhagen: ONXEO) is a clinical-stage biotechnology company developing innovative oncology drugs targeting tumor DNA-binding functions through unique mechanisms of action in the sought-after field of DNA Damage Response (DDR). The Company is focused on bringing early-stage first-in-class or disruptive compounds from translational research to clinical proof-of-concept, a value-creating inflection point appealing to potential partners.
platON™ is Onxeo’s proprietary chemistry platform of oligonucleotides acting as decoy agonists, which generates new innovative compounds and broaden the Company’s product pipeline.
AsiDNA™, the first compound from platON™, is a first-in-class, highly differentiated DNA Damage Response (DDR) inhibitor based on a decoy and agonist mechanism acting upstream of multiple DDR pathways. Translational research has highlighted the distinctive properties of AsiDNA™, notably its ability to abrogate tumor resistance to PARP inhibitors regardless of the genetic mutation status. AsiDNA™ has also shown a strong synergy with other tumor DNA-damaging agents such as chemotherapy and PARP inhibitors. The DRIIV-1 (DNA Repair Inhibitor-administered IntraVenously) phase I study has evaluated AsiDNA™ by systemic administration (IV) in advanced solid tumors and confirmed the active doses as well as a favorable human safety profile. The ongoing DRIIV-1b extension study is assessing the safety and efficacy of a 600 mg dose of AsiDNA™ in combination with carboplatin and then with carboplatin and paclitaxel, in patients with solid tumors who are eligible for such treatments. Preliminary results from the first cohort with carboplatin alone showed good tolerability, stabilization of the disease and an increase in the duration of treatment compared to previous treatments.
OX401 is a new drug candidate from platON™, optimized to be a next-generation PARP inhibitor acting on both the DNA Damage Response and the activation of immune response, without inducing resistance. OX401 is undergoing preclinical proof-of-concept studies, alone and in combination with immunotherapies.
For further information, please visit www.onxeo.com.
Forward looking statements
This communication expressly or implicitly contains certain forward-looking statements concerning Onxeo and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Onxeo to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Onxeo is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. For a discussion of risks and uncertainties which could cause actual results, financial condition, performance or achievements of Onxeo to differ from those contained in the forward-looking statements, please refer to chapter 3 “Risk Factors” ("Facteurs de Risque") of the Company’s universal registration document filed with the Autorité des marchés financiers on April 27, 2020 under number D.20-0362, which is available on the websites of the Autorité des marchés financiers (www.amf-france.org) an the Company (www.onxeo.com).