XTL's lead product is a treatment of multiple myeloma, and it is readying a clinical trial for the product.
XTL Biopharmaceuticals Ltd. (Nasdaq:XTLB); TASE:XTL) will resume trading on Nasdaq this week, after Nasdaq approved the company's listing application last week. XTL's ADR will be traded at a ratio of 20 shares representing each ADR.
XTL had been listed on Nasdaq, as well as the Tel Aviv Stock Exchange (TASE) and London Stock Exchange, until the collapse of its share price following the failure of the clinical trial of its lead product. The company delisted from London, and was relegated to the Pink Sheets on Wall Street.
Two years ago, XTL changed hands, replaced its management, and entered a new business. It has now reached a market cap and capital to return to Nasdaq. Its lead product is recombinant erythropoietin (rHuEPO) for the treatment of multiple myeloma, and it is readying a clinical trial for the product.
Published by Globes [online], Israel business news - www.globes-online.com - on July 14, 2013
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