Medexus Submits Application to List on the Nasdaq
TORONTO, CHICAGO and MONTREAL, Jan. 21, 2021 (GLOBE NEWSWIRE) — Medexus Pharmaceuticals Inc. (the “Company” or “Medexus”) (TSXV: MDP) (OTCQX: MEDXF) (Frankfurt: P731) announced today that it has submitted its application to list on The Nasdaq Capital Market® (the “Nasdaq”).Ken d’Entremont, Chief Executive Officer of Medexus, commented, “The submission of our application to list on the Nasdaq marks a significant milestone for Medexus. 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. 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. We believe a listing in the U.S. would provide us much greater exposure within the investment community as we execute on key upcoming financial and operational milestones. Our application is currently under review with Nasdaq staff and we intend to provide further updates as developments unfold.”The listing of the Company’s common shares on the Nasdaq remains subject to the approval of the Nasdaq and the satisfaction of all applicable listing and regulatory requirements. While the Company intends to satisfy all of the applicable listing criteria, no assurance can be given that its application will be approved. The Company plans to maintain its current listing on the TSX Venture Exchange and on the Frankfurt Stock Exchange.Investor Update WebinarThe Company is also announcing today that Ken d’Entremont, CEO, and Roland Boivin, CFO will host an Investor Update Webinar on January 25th, 2021 at 2:00 PM Eastern Time to provide an operational update, followed by a question-and-answer period.Registration Link: Medexus Pharmaceuticals Investor UpdateAfter registering, you will receive a confirmation email containing information about joining the webinar. Questions may be asked during the webinar or can be emailed in to [email protected]. A replay will be made available on the Medexus website.About Medexus Pharmaceuticals Inc.Medexus is a leading specialty pharmaceutical company with a strong North American commercial platform. The Company’s vision is to provide the best healthcare products to healthcare professionals and patients, through our core values of Quality, Innovation, Customer Service and Teamwork. Medexus is focused on the therapeutic areas of auto-immune disease, hematology, and allergy. The Company’s leading products are: Rasuvo™ and Metoject®, a unique formulation of methotrexate (auto-pen and pre-filled syringe) designed to treat rheumatoid arthritis and other auto-immune diseases; IXINITY®, an intravenous recombinant factor IX therapeutic for use in patients 12 years of age or older with Hemophilia B – a hereditary bleeding disorder characterized by a deficiency of clotting factor IX in the blood, which is necessary to control bleeding; and Rupall®, an innovative allergy medication with a unique mode of action.For more information, please contact:Ken d’Entremont, Chief Executive Officer
Medexus Pharmaceuticals Inc.
E-mail: [email protected]Roland Boivin, Chief Financial Officer
Medexus Pharmaceuticals Inc.
E-mail: [email protected]Investor Relations (U.S.):
Crescendo Communications, LLC
Email: [email protected]Investor Relations (Canada):
E-mail: [email protected]Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). The words “anticipates”, “believes”, “expects”, “will”, “plans” and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements contained in this news release include, but are not limited to, statements with respect to the Company’s ability to list on the Nasdaq, the benefits to the Company associated with such a listing on the Nasdaq and the Investor Update Webinar. These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Material risk factors include those set out in the Company’s materials filed with the Canadian securities regulatory authorities from time to time, including the Company’s most recent annual information form and management’s discussion and analysis; future capital requirements and dilution; intellectual property protection and infringement risks; competition (including potential for generic competition); reliance on key management personnel; the Company’s ability to implement its business plan; the Company’s ability to leverage its United States and Canadian infrastructure to promote additional growth, including with respect to the infrastructure of Medexus Inc. and Medac Pharma, Inc. and the potential benefits the Company expects to derive therefrom; regulatory approval by the Canadian health authorities; product reimbursement by third party payers; patent litigation or patent expiry; litigation risk; stock price volatility; government regulation; and potential third party claims. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of the date hereof. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.