Aurinia Pharmaceuticals Announces Delisting from the Toronto Stock Exchange
16 Juli 2021 - 11:30PM
Business Wire
Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH / TSX: AUP) (Aurinia
or the Company), a commercial stage biopharmaceutical company
advancing therapies for severe autoimmune diseases, announced today
it will voluntarily delist the common shares of the Company from
the Toronto Stock Exchange (TSX) effective as of the close of
trading on July 30, 2021. The Company’s common shares will no
longer be traded on the TSX but will continue to trade on the
Nasdaq Capital Market (Nasdaq) under the symbol AUPH.
Trading on the Nasdaq accounted for approximately 94 percent of
Aurinia’s daily trading volume over the past 12 months. Therefore,
the Company believes that the trading volume of its shares on the
TSX no longer justifies the expense and administrative efforts
associated with maintaining a dual listing. The Company is
confident that the transition to a single listing will help deliver
better value to its shareholders, employees and of course, the
patient and HCP communities it serves. Pursuant to Sec. 720(b) of
the TSX Company Manual, shareholder approval is not required as an
acceptable alternative market exists for the listed securities.
Most brokers in Canada, including discount and online brokers,
have the ability to buy and sell securities listed on Nasdaq.
Therefore, the Company’s Nasdaq listing will continue to provide
shareholders with the same accessibility to trade the Company’s
common shares. The value of investor shares or stock options is not
related to or dependent on the TSX listing. Shareholders holding
shares or options in Canadian brokerage accounts should contact
their brokers to confirm how to trade the Company’s shares on the
Nasdaq.
About Aurinia
Aurinia Pharmaceuticals is a fully integrated biopharmaceutical
company focused on delivering therapies to treat targeted patient
populations that are impacted by serious diseases with a high unmet
medical need. The Company’s head office is in Victoria, British
Columbia, its U.S. commercial hub is in Rockville, Maryland, and
the Company focuses its development efforts globally.
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version on businesswire.com: https://www.businesswire.com/news/home/20210716005457/en/
Investors: Glenn Schulman, PharmD, MPH Investor Relations
& Corporate Communications, Aurinia gschulman@auriniapharma.com
Media: Dana Lynch Corporate Communications, Aurinia
dlynch@auriniapharma.com