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| 8-K - PROLOR Biotech, Inc. | v186609_8k.htm |
PROLOR
BIOTECH ANNOUNCES NEW LISTING ON TEL AVIV STOCK EXCHANGE
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Common Shares Already Listed on NYSE Amex Will Also List on the Tel Aviv Stock
Exchange (TASE) Beginning May 27, 2010 under Ticker Symbol PBTH -
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Company Anticipates Joining TASE’s TA-75, TA-100, Tel-Tech 15 and
Biomed
Indexes beginning June 13, 2010 -
Nes-Ziona, Israel – May 26, 2010 – PROLOR
Biotech, Inc., (NYSE Amex: PBTH), a company developing next generation biobetter
therapeutic proteins, today announced that the Tel Aviv Stock Exchange (TASE)
has approved the new listing of PROLOR’s common stock on the TASE beginning on
Thursday, May 27, 2010. At that time, the company’s common stock will
be listed on both the NYSE Amex in the United States and the TASE in
Israel. The company also announced today that, based upon PROLOR’s
current market capitalization, it expects its shares to be subject to inclusion
in four TASE equity indexes beginning June 13, 2010: the TA-100, TA-75, Tel-Tech
15 and Biomed.
“We
believe that PROLOR’s CTP technology, which has the potential to extend the
duration of virtually any therapeutic protein, could significantly improve the
treatment of prevalent diseases and conditions worldwide, as demonstrated by the
encouraging clinical data we recently reported on our CTP-enhanced version of
human growth hormone,” said Shai Novik, President of PROLOR. “We
believe this dual listing reflects the company’s significant prospects and will
provide our stockholders with greater liquidity and the company with greater
access to capital, including Israel-focused institutional
investors.”
Mr. Novik
added: “We look forward to joining Israel’s top companies and biopharmaceutical
innovators as part of the TA-75, TA-100, Tel Tech 15 and Biomed
indexes.”
“We are
very pleased to welcome PROLOR to the Tel Aviv Stock Exchange,” said Ester
Levanon, CEO of the Tel Aviv Stock Exchange. “The TASE is home to
Israel’s most innovative companies, among them over 50 dual-listed companies.
Dual listing provides a variety of benefits to companies such as PROLOR,
including added exposure to Israeli investors, greater liquidity, expanded
trading hours and access to TASE index funds.”
PROLOR
is, and will remain, subject to the applicable rules and regulations of NYSE
Amex-listed companies and the U.S. Securities and Exchange
Commission. Under Israel’s Dual Listing Law, U.S.-listed companies
may also list on the TASE without any additional regulatory
requirements. Trading on the TASE occurs Sunday through Thursday from
8:30 am to 4:30 pm Israel time, except on TASE trading holidays, and trading on
the NYSE Amex occurs Monday through Friday, 9:30 am to 4:00 pm Eastern Time,
except on NYSE Amex holidays. The TASE Clearing House is
electronically linked to the Depository Trust Company, a subsidiary of the
Depository Trust & Clearing Corporation, to automate the cross-border
settlement of shares listed on both the TASE and a U.S. Exchange.
ABOUT PROLOR
BIOTECH
PROLOR
Biotech, Inc. is a biopharmaceutical company applying unique technologies,
including its patented CTP technology, primarily to develop longer-acting,
biobetter, proprietary versions of already approved therapeutic proteins that
currently generate billions of dollars in annual global sales. The
CTP technology is applicable to virtually all proteins and PROLOR is currently
developing long-acting versions of human growth hormone, which is in clinical
development, and interferon beta, factor VII, factor IX and erythropoietin,
which are in preclinical development, as well as GLP-1 and other therapeutic
peptides. For more information on PROLOR, visit www.prolor-biotech.com.
Safe Harbor
Statement: This press release contains forward-looking
statements, which may be identified by words such as “expects,” “plans,”
“projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,”
“estimates,” “suggests” and other words of similar meaning, including statements
regarding the inclusion of PROLOR’s common stock in various indexes, results of
current clinical studies and preclinical experiments and the effectiveness of
PROLOR’s long-acting protein programs, which are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that forward-looking statements involve
risks and uncertainties that may affect PROLOR’s business and prospects,
including the risks that PROLOR may not succeed in developing any commercial
products, including any long-acting versions of human growth hormone,
erythropoietin, interferon beta, GLP-1, and other products; that the long-acting
products in development may fail, may not achieve the expected results or
effectiveness and/or may not generate data that would support the approval or
marketing of these products for the indications being studied or for other
indications; that ongoing studies may not continue to show substantial or any
activity; that the actual dollar amount of any grants from Israel’s Office of
the Chief Scientist is uncertain and is subject to policy changes of the Israeli
government, and that such grants may be insufficient to assist with product
development; and other risks and uncertainties that may cause results to differ
materially from those set forth in the forward-looking statements. The results
of clinical trials in humans may produce results that differ significantly from
the results of clinical and other trials in animals. The results of early-stage
trials may differ significantly from the results of more developed, later-stage
trials. The development of any products using the CTP platform technology could
also be affected by a number of other factors, including unexpected safety,
efficacy or manufacturing issues, additional time requirements for data analyses
and decision making, the impact of pharmaceutical industry regulation, the
impact of competitive products and pricing and the impact of patents and other
proprietary rights held by competitors and other third parties. In addition to
the risk factors described above, investors should consider the economic,
competitive, governmental, technological and other factors discussed in PROLOR’s
filings with the Securities and Exchange Commission. The
forward-looking statements contained in this pres release speak only as of the
date the statements were made, and we do not undertake any obligation to update
forward-looking statements, except as required under applicable
law.
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PROLOR
CONTACT:
Shai Novik, President
PROLOR
Biotech, Inc.
Tel: +1 866 644-7811
Email: shai@prolor-biotech.com
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MEDIA
CONTACT:
Barbara Lindheim
GendeLLindheim
BioCom Partners
+1 212
918-4650
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