NEW YORK (GenomeWeb News) – Epigenomics today said that it has established a Level 1 American Depositary Receipt program enabling the firm to trade publicly in the US.
The Berlin, Germany-based molecular diagnostics firm said that its ADRs are US dollar-negotiable certificates that represent ordinary shares of the company at a ratio of five ordinary shares to one Epigenomics ADR.
The ADRs are expected to begin trading today on the US OTC market under the ticker symbol 'EPGNY.' The firm's ordinary shares trade on the Frankfurt Prime Standard under the ticker symbol 'ECX.'
BNY Mellon is the depositary bank for the ADR program.
"We established the ADR program as a service to offer those investors an easy way to buy our shares and to consequently broaden the shareholder base in our core market," Thomas Taapken, CEO and CFO of Epigenomics, said in a statement.
The firm is awaiting a US Food and Drug Administration decision on the premarket approval application for its colorectal cancer test that it filed late last year. The Epi proColon test is based on the Septin9 protein and has been available as a CE-marked test kit in Europe and the Middle East since 2009. In 2011, Epigenomics launched an improved version, the Epi proColon 2.0 CE.
The FDA granted the firm's PMA application priority review status earlier this year.