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AstraZeneca to move to Nasdaq from New York Stock Exchange

The pharma giant is looking to cut costs, while it also announced “high-level” results for its rhinosinusitis candidate

AstraZeneca - AstraZeneca to move to Nasdaq from New York Stock Exchange

AstraZeneca PLC (LON:AZN) said it is transferring all its US equity and debt securities to the Nasdaq from the New York Stock Exchange to cut costs.

The American Depositary Receipts and US-listed debt securities are expected to commence trading on Nasdaq from September 25, keeping the same ticket symbol ‘AZN’.

READ: AstraZeneca pauses Oxford coronavirus vaccine trial after adverse effect

The primary listing in the UK and in Sweden are unaffected by the move.

“As a global science-led, patient-focused biopharmaceutical company, dedicated to pushing the boundaries of science to deliver life-changing medicines, we are excited to be joining many of the world's largest and most innovative companies on Nasdaq,” said Marc Dunoyer, executive director and chief financial officer.

Good results for rhinosinusitis candidate

In a separate announcement, the FTSE 100 pharma giant revealed its candidate Fasenra showed “high-level” results in a phase III trial for patients with chronic rhinosinusitis with nasal polyps.

The antibody demonstrated a statistically significant improvement in two scores compared to placebo.

Chronic rhinosinusitis with nasal polyps is an inflammatory disease comprising benign growths across the nose and throat, which can cause blockage and discharge, reduction or loss in the sense of smell and sleep issues.

Fasenra is currently approved as an add-on maintenance treatment for severe eosinophilic asthma in the US, EU, Japan and other countries and is approved for self-administration in the US, EU and other countries.

Quick facts: AstraZeneca

Price: 7766 GBX

LSE:AZN
Market: LSE
Market Cap: £101.91 billion
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