NEW YORK (GenomeWeb News) – DiaGenic today announced it has terminated its market-making contract with investment firm Terra Markets, effective March 1.
DiaGenic, based in Oslo, Norway, had an agreement with Terra to ensure sufficient trading of its shares, which lists on the Oslo Stock Exchange. But with trading of the company's stock "very high," the molecular diagnostic developer decided that it no longer needed Terra's services, DiaGenic CEO Erik Christensen said in an e-mail.
"The trading in DiaGenic shares is now very high. In fact, it was the sixth-most purchased share in Norway in December," he said. "The cancellation with Terra Markets thus reflects the positive development of DiaGenic."
In October, the company announced that it had raised NOK70 million ($12.1 million) in a private placement, and last month it and Pfizer said they would collaborate on a deal to discover biomarkers for early-stage Alzheimer's disease.