pSivida shares ready to commence trading

Published: 8-Feb-2005

Global nanotechnology company pSivida's US securities registration has been declared effective and it has received preliminary approval from NASDAQ for the listing of its American Depositary Shares (ADSs) represented by American Depositary Receipts (ADRs) on the NASDAQ National Market, which will commence trade under the ticker symbol PSDV.


Global nanotechnology company pSivida's US securities registration has been declared effective and it has received preliminary approval from NASDAQ for the listing of its American Depositary Shares (ADSs) represented by American Depositary Receipts (ADRs) on the NASDAQ National Market, which will commence trade under the ticker symbol PSDV.

The company expects its ADSs.to trade on a 10:1 ratio to the company's ordinary shares (i.e. 10 pSivida shares for every 1 ADR), which will continue to trade on the Australian and Frankfurt Stock Exchanges.

'The NASDAQ listing will be an important step forward for pSivida as it looks to achieve success in the world's largest market in terms of capital and pharmaceutical products,' said pSivida managing director Gavin Rezos.

pSivida's focus is the development and commercialisation of a modified form of silicon (porosified or nano-structured silicon) known as BioSilicon, designed to offer multiple potential applications across the high growth healthcare sector, including controlled release drug delivery, targeted cancer therapies (including brachytherapy and localised chemotherapy), tissue engineering and orthopedics. Potential diagnostics applications are being developed through its subsidiary AION Diagnostics.

  

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