ASLAN Pharmaceuticals Announces the Move of its Primary Listing to Nasdaq and Delisting From Taipei Exchange
17 Juli 2020 - 12:08PM
ASLAN Pharmaceuticals (Nasdaq: ASLN, TPEx:6497), a clinical-stage
immunology and oncology focused biopharmaceutical company
developing innovative treatments to transform the lives of
patients, today announced further progress towards a primary
listing on the Nasdaq Global Market (“Nasdaq”) and receipt of a
Notice of Delisting from the Taipei Exchange (“TPEx”), an expected
step in the TPEx delisting process. The company will retain its
listing of American Depositary Shares (“ADS”) on Nasdaq in the
United States and existing holders of ADS do not need to take any
action as a result of this announcement.
Dr Carl Firth, Chief Executive Officer, ASLAN
Pharmaceuticals, said: “Changing the company’s primary
listing to Nasdaq will enhance our ability to raise capital given
the greater flexibility afforded to us when we are no longer
subject to TPEx regulations. 90 percent of trading in our
securities the last six months has taken place on Nasdaq and we
have not raised any capital in Taiwan since 2017. This move is also
in line with the shift in our commercial focus towards the U.S.
market as we prepare to initiate a Phase 2b study of ASLAN004 in
atopic dermatitis in 2021.”
ASLAN expects its ordinary shares to cease trading on TPEx on
August 25, 2020, and TPEx regulations will cease to apply shortly
thereafter. Holders of the company’s ordinary shares can apply
before September 25, 2020, to convert their shares into ADS and it
is anticipated that the conversion will be completed before the end
of October.
ASLAN is currently recruiting patients into the second of three
dose cohorts of its Phase 1 randomised, double-blind,
placebo-controlled multiple ascending dose study of ASLAN004 in
moderate to severe atopic dermatitis. Recruitment of patients into
the study is expected to restart in August as restrictions put in
place by the Singapore government to contain the spread of COVID-19
are gradually lifted. Sites in Australia and the U.S. are also
preparing to come online to accelerate recruitment. The company
expects to announce interim, unblinded data from the study in the
fourth quarter of 2020.
Further information is available on ASLAN’s website via this
link https://ir.aslanpharma.com/shareholder-faqs.
Ends
Media and IR contacts
Emma
ThompsonSpurwing CommunicationsTel: +65 6751 2021Email:
ASLAN@spurwingcomms.com |
Robert
UhlWestwicke PartnersTel: +1 858 356 5932 Email:
robert.uhl@westwicke.com |
|
About ASLAN Pharmaceuticals ASLAN
Pharmaceuticals (Nasdaq:ASLN, TPEx:6497) is a clinical-stage
immunology and oncology focused biopharmaceutical company
developing innovative treatments to transform the lives of
patients. Led by a senior management team with extensive experience
in global development and commercialisation, ASLAN has a clinical
portfolio comprised of a first in class monoclonal therapy,
ASLAN004, that is being developed in atopic dermatitis and other
immunology indications, and a small molecule inhibitor targeting
oncology. ASLAN’s partners include Almirall, Array BioPharma,
Bristol-Myers Squibb, and CSL. For additional information please
visit www.aslanpharma.com.
Forward looking statements
This release and the accompanying financial information, if any,
contains forward-looking statements. These statements are based on
the current beliefs and expectations of the management of ASLAN
Pharmaceuticals Limited and/or its affiliates (the "Company").
These forward-looking statements may include, but are not limited
to, statements regarding the potential delisting of the Company’s
ordinary shares from TPEx, including the timing of such delisting;
the ability of the Company to develop and implement a plan to
enable holders of the Company’s ordinary shares to convert such
securities into ADSs tradeable on Nasdaq; the potential benefits
and financing ability of the Company as a result of a potential
TPEx delisting or otherwise; and the Company’s business strategy,
the Company’s plans to develop and commercialise its product
candidates, the safety and efficacy of the Company’s product
candidates, the Company’s plans and expected timing with respect to
regulatory filings and approvals, and the size and growth potential
of the markets for the Company’s product candidates. The Company’s
estimates, projections and other forward-looking statements are
based on management's current assumptions and expectations of
future events and trends, which affect or may affect the Company’s
business, strategy, operations or financial performance, and
inherently involve significant known and unknown risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in such forward-looking
statements as a result of these risks and uncertainties, which
include, without limitation the risk factors described in the
Company’s U.S. Securities and Exchange Commission filings and
reports (Commission File No. 001-38475), including the Company’s
Form 20-F filed with the U.S. Securities and Exchange Commission
(the “SEC”) on April 16, 2020. All statements other than statements
of historical fact are forward-looking statements.
All statements other than statements of historical fact are
forward-looking statements. The words “believe,” “may,” “might,”
“could,” “will,” “aim,” “estimate,” “continue,” “anticipate,”
“intend,” “expect,” “plan,” or the negative of those terms, and
similar expressions that convey uncertainty of future events or
outcomes are intended to identify estimates, projections and other
forward-looking statements. Estimates, projections and other
forward-looking statements speak only as of the date they were
made, and, except to the extent required by law, the Company
undertakes no obligation to update or review any estimate,
projection or forward-looking statement.
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