ENLIVEX ANNOUNCES DUAL LISTING ON THE TEL-AVIV STOCK EXCHANGE
The Company’s shares, which currently trade on NASDAQ, will be dual-listed on the Tel Aviv Stock Exchange (TASE) starting on July 22, 2019, under the symbol ENLV
Tel-Aviv, Israel, July 16, 2019 (GLOBE NEWSWIRE) Enlivex Therapeutics Ltd., a clinical-stage immunotherapy company, today announced that the Tel Aviv Stock Exchange (TASE) approved the listing of its ordinary shares effective July 22, 2019, under the symbol ENLV. Enlivex has a current market capitalization of approximately US$220 Million, and is expected to join the TASE leading indices effective October 2019.
The Company’s ordinary shares will continue to trade on NASDAQ, and the Company will continue to comply with the reporting and disclosure requirements of the U.S. Securities and Exchanges Commission applicable to foreign private issuers. In the framework of the dual listing, the Company will not be required to submit additional reports beyond those required in the United States.
Enlivex is developing ALLOCETRA™, a novel immunotherapy based on a unique mechanism of action that targets life threatening diseases that are defined as “unmet medical needs”, such as preventing or treating complications associated with bone marrow transplants and/or hematopoietic stem cell transplants; organ dysfunction and acute multiple organ failure associated with sepsis and enablement of an effective treatment of solid tumors via immune checkpoint rebalancing.
Enlivex has successfully completed a phase IIa clinical trial to prevent graft-versus-host disease in a matched donor population. In addition, the Company recently reported an update from a Phase Ia clinical study of Allocetra in sepsis, which showed a positive safety profile among the first three patients. A phase II/III clinical trial for preventing complications after bone marrow transplants is expected to begin in the first half of 2020.
Shai Novik, Chairman of the Board of Directors of Enlivex, stated: “As an Israeli company, which is based on technology developed in Israel, we are proud to be listed for trading on the Tel Aviv Stock Exchange. In the first quarter of 2019, we completed the merger transaction with Bioblast which allowed us to list on NASDAQ. We are pleased that American investors have expressed interest Enlivex and its products as reflected in the Company’s current value. We hope that the TASE dual listing will allow Enlivex to expand its shareholder base and enable a convenient way for Israeli institutional investors to invest in the Company and be part of its growth process.”
Dr. Shmuel Hess, CEO of Enlivex, stated: “Enlivex is developing clinical assets where there is a significant unmet medical need with no available therapies. We believe that our novel immunotherapy solution to restore balance in the immune system will provide life-saving solutions to patients suffering from acute and emergency clinical situations. The Company is expecting significant clinical milestones during the next two years.
Ittai Ben Zeev, CEO of the TASE stated: “We congratulate Enlivex on its choice to dual list on the Tel Aviv Stock Exchange. We believe that dual listing is advantageous for Israeli companies traded abroad and should be part of the Israeli capital market. TASE dual listing offers many advantages, including expansion of the shareholder base, additional trading days and trading hours – all expected to result in increased trading and liquidity.”