NEW YORK (GenomeWeb News) – Myriad Genetics today said that it has received approval to file an application transferring its shares from the Nasdaq stock exchange to the New York Stock Exchange.
The Salt Lake City-based developer of molecular diagnostics and therapeutics said that it expects to be trading on the NYSE Big Board in the second quarter of 2009. Once the transfer is complete, Myriad will trade under the symbol MGX.
Myriad had announced in October that it would spin off its drug development businesses from its molecular diagnostics business, creating two separate publicly traded firms. Myriad Pharmaceuticals will be listed on the NASDAQ Global Market under the company's current ticker symbol, MYGN.
Myriad officials recently said that the firm would likely use between $150 million and $200 million of the firm’s cash on hand to initially fund its pharma business.