Cynapsus Therapeutics Begins Trading on the OTCQX Marketplace in the United States
Marketwire, July 18, 2022
TORONTO, CANADA – Marketwire – Cynapsus Therapeutics Inc. (TSX-V: CTH) (OTCQX: CYNAF) (“Cynapsus” or the “Corporation”) today announced that its common shares have been approved for trading in the United States on the OTCQX marketplace (“OTCQX”). Trading is expected to commence immediately on OTCQX International under the symbol CYNAF. The Corporation will continue to trade on the TSX Venture Exchange under its existing symbol CTH.
OTCQX International is a segment of the OTCQX marketplace reserved for high-quality non-U.S. companies that are listed on a qualified foreign stock exchange, undergo management reviews and provide their home country disclosure to U.S. investors. U.S. investors can find information and Real-Time Level 2 quotes for the Corporation on www.otcmarkets.com. Troutman Sanders LLP will act as the Corporation's Principal American Liaison (“PAL”) on the OTCQX.
Anthony Giovinazzo, Cynapsus’ President and Chief Executive Officer said, “We are very pleased to have achieved this strategic objective of providing U.S. investors with efficient access to our stock. We believe that all shareholders will benefit from the Corporation's exposure to a larger number of retail and institutional investors.”
About Cynapsus Therapeutics
Cynapsus is a specialty pharmaceutical company developing the only oral (sublingual) delivery of the only approved drug (apomorphine) to be used as a rescue therapy for “off” motor symptoms of Parkinson’s disease. Over one million people in the U.S. and an estimated 5 million people globally suffer from Parkinson's disease. Parkinson’s disease is a chronic and progressive neurodegenerative disease that impacts motor activity, and its prevalence is increasing with the aging of the population. Based on a recent study and the results of the Company’s Global 500 Neurologists Survey, it is estimated that between 25 percent and 50 percent of patients experience "off" episodes in which they have impaired movement or speaking capabilities. Current medications only control the disease's symptoms, and most drugs become less effective over time as the disease progresses.
Cynapsus' drug candidate, APL-130277, is an easy-to-administer, fast-acting reformulation of apomorphine, which is approved in an injection formulation to rescue patients from "off" episodes. Cynapsus is focused on maximizing the value of APL-130277 by completing pivotal studies in advance of a New Drug Application expected to be submitted in 2015. Cynapsus anticipates a trade sale or out-licensing to an appropriate global pharmaceutical partner before such an application is submitted.
More information about Cynapsus (TSX-V: CTH) (OTCQX: CYNAF) is available at www.cynapsus.ca and at the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
Contacts
Cynapsus Therapeutics:
Anthony Giovinazzo
President and CEO
(416) 703-2449 x225
[email protected]
Cynapsus Therapeutics
Andrew Williams
COO & CFO
(416) 703-2449 x253
[email protected]
www.cynapsus.ca
Forward Looking Statements
This announcement contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Cynapsus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks and uncertainties relating to Cynapsus' business disclosed under the heading "Risk Factors" in its Annual Information Form filed on November 1, 2021 and its other filings with the various Canadian securities regulators which are available online at www.sedar.com. Although Cynapsus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cynapsus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
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