The Board of Directors of Redwood Pharma AB (publ) (“Redwood Pharma” or “the Company”) today announces its intention to switch stock exchanges from Spotlight Stock Market to Nasdaq First North Growth Market in the spring of 2021.
Redwood Pharma, active in drug development in ophthalmology, was listed on the Spotlight Stock Market in June 2016 and has since undergone strong business development through the continued validation of the original drug candidate RP101 and through the broadening of the product portfolio through the product candidate RP501. In 2020, clinical results were announced in a phase II trial for RP101, whereby it was found that RP101 shows efficacy and safety in patients suffering from chronic dry eye. The study results were also the basis for the start of the RP501 program. The Company is planning further clinical studies and in the longer term commercialization of the Company’s product candidates.
The Board is of the opinion that a change of trading venue for the Company’s shares to Nasdaq First North Growth Market will increase the market’s awareness of the Company and have a positive impact on the Company’s relationships with commercial partners. Switching exchange is thus a natural part of the Company’s future development and is considered to be value – creating for Redwood Pharma’s shareholders.
“Nasdaq is a global and well-known brand. A listing at Nasdaq First North Growth Market is a hallmark of quality and will create better conditions for increased visibility in the stock market and increased interest from both industry and institutional investors”, says Gunnar Mattsson, Chairman of the Board of Redwood Pharma.
The Company has initiated a process for moving to the new exchange and intends to provide further information about this during the spring.
For more information:
Martin Vidaeus, CEO Redwood Pharma AB (publ.)
Tel: +46 (0) 70 232 29 29
About Redwood Pharma
Redwood Pharma develops ophthalmic products for unmet medical needs through novel approaches. In providing commercial partners and their customers with effective medical solutions, the company currently has products in development to treat dry eye disease in different target patient populations. The RP101 program targets moderate-to-severe dry eye disease in postmenopausal women by delivering a low-dose estrogen therapy to the front of the eye. The RP501 program aims to treat milder forms of dry eye in a broader patient population including both men and women. For other potential drug substances and therapeutic areas, the Company can employ the IntelliGel drug delivery platform that enhances patient convenience by controlling dosing and potentially reducing the number of instillations per day and subsequent side-effects. Redwood Pharma leverages its strengths in early clinical development and aims to generate revenues through, among others, licensing agreements with companies that have capabilities to manufacture and sell medical products worldwide.
Redwood Pharma AB (publ) is listed on the Spotlight Stock Market (Ticker: REDW.ST, ISIN: SE008294789).