Redx Pharma denies US listing plan following report
Redx Pharma has denied it is currently in the process of listing in the US following a report in The Times.
The Chesire-based company, which trades on the London Stock Exchange’s AIM, added it is also not in the process of listing in any other jurisdiction.
The business said its board “continues to consider all financing and other strategic options to extend the cash runway in the best interests of all shareholders”
The report comes after Redx Pharma signed a deal worth $880m with a Nasdaq-listed US counterpart.
In a statement, the company said: “Redx, the clinical-stage biotechnology company focused on discovering and developing novel, small molecule, targeted therapeutics for the treatment of fibrotic disease and cancer notes the article published on the website of The Times on 13 February 2024 stating that the Company is ‘eyeing’ a US listing.
“Redx wishes to clarify that it is not currently in any process relating to a listing in the US, nor any other jurisdiction.
“As previously stated, the board continues to consider all financing and other strategic options to extend the cash runway in the best interests of all shareholders.”
In May 2023, planned $425m merger between the drug developer and a US counterpart was called off.