Neoprobe Corp. (OTCBB:NEOP) has received approval for its common stock to be listed on the NYSE Amex.
The Dublin, Ohio-based company expects its stock to begin trading on the exchange “on or around” Feb. 10, according to a statement from Neoprobe.
Neoprobe is currently traded on Nasdaq’s Over-the-Counter Bulletin Board. Company executives have been touting a listing on the NYSE Amex since at least last year.
“The NYSE Amex listing will provide Neoprobe with improved liquidity and expanded visibility in the investment community, allowing us to strengthen and grow our investor base,” CEO David Bupp said.
Neoprobe is developing a radiopharmaceutical called Lymphoseek, which is a tracing agent that identifies cancerous lymph nodes in patients with breast cancer and melanoma. Cardinal Health will market and distribute the drug.
Neoprobe is expected to file a regulatory application in the next few months that, if approved, would give it the right to begin selling Lymphoseek in the U.S.
The company estimates Lymphoseek’s market at $450 million.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Once a rival to the New York Stock Exchange, the American Stock Exchange was acquired in 2008 by the company that owns its former competitor. Most trading on the NYSE Amex is in small-cap stocks, exchange traded funds and derivatives.
