Medexus Pharmaceuticals Inc (CVE:MDP) (OTCQX:MEDXF) (FRA:P731), the specialty pharmaceutical company, said Thursday it had applied to list on the Nasdaq index in a bid to gain greater exposure within the US investment community as it executes on key upcoming financial and operational milestones.
"We believe we now meet the initial listing requirements, which reflects the success of our ongoing efforts to create a highly scalable business platform with a diversified and growing product portfolio across North America," said Ken d’Entremont, the chief executive of Medexus.
READ: Medexus in exclusive license deal with Europe’s Ethypharm to register and commercialize Triamcinolone Hexacetonide in US
"In fact, we have grown at a 129% CAGR over the past 3 fiscal years alone and are generating very strong cash flow.
"Given our current trajectory and growth of our U.S-based business that now accounts for more than 74% of total revenues, management and the board of directors are actively working to complete all of the necessary steps to successfully complete the proposed dual listing on Nasdaq."
The Nasdaq listing remains subject to the approval of the Nasdaq and satisfaction of all applicable listing and regulatory requirements.
Also in today's statement, the company said that d’Entremont and finance chief Roland Boivin will host an Investor Update Webinar on January 25 this year at 2pm ET to provide an operational update, which will be followed by a Q&A. People can register HERE.
Contact the author at giles@proactiveinvestors.com