Shares in Xenetic Biosciences (LON:XEN) raced up late on Tuesday as it announced plans to secure an offer from a US company.
The drug developer noted today's share movement and said it was currently seeking a US firm to make an offer for Xenetic.
This, it says, would help it to realise its aim of listing in the US market more easily.
As reported previously the company is in the process of moving and expanding its actvities to Boston - a centre for orphan drug development.
Xenetic highlighted that there was no certainty that any offer would ultimately be made, and as of now, it was not in discussions with any US company.
"The board of Xenetic believes that at the present time smaller quoted bioscience companies, in general, have a higher profile and a better investor following in the US than is found in European markets in general and in the UK market, in particular," it said in a statement.
A listing in the US will allow a number of benefits, it said, including better access to finance and higher levels of share trading liquidity.
Xenetic shares rose 24.44% to 7 pence each.
More follows...