RE: Confusion21 Nov 2020 21:18
I’ve exchanged a few emails recently. This is the latest from 13 November
“Thank you for getting in touch.
As previously communicated we expect the merger to complete and the NASDAQ listing to become effective in early Q1 2021. We are working tirelessly towards this and have made excellent progress in the regulatory process, and will be sure to update the market as and when appropriate.
Your words of advice around liquidity are appreciated. As part of the dual listing process we are engaging an American depository bank which will manage the liquidity of shares/ADSs between the two markets. They have extensive experience in similar transactions and we have every confidence in their ability to manage this process effectively. Across the board we are ramping up our US IR activities, including bringing on board Stern IR who are established experts in US biopharma and already making excellent contributions such as helping organise this week’s KOL and analyst event (available here if you were not able to catch it live https://www.4dpharmaplc.com/en/investors/reports-presentations), and increasing engagement with US-based healthcare equity analysts. Engaging a US broker is of course part of this wider process, and we have good relationships with a number of reputable firms.
Regarding the Blautix Phase II trial, that is correct we are conducting additional analyses including for example sub-group and microbiome analysis. At this stage we are unable to provide further guidance on exactly when these will be available. Our Business Development activities regarding the partnering of Blautix for further development and commercialisation are very much ongoing, with a number of parties engaged in active discussions. While we appreciate the desire for progress updates from our investor community, in this industry these things do not happen overnight and we are pleased with the progress we have made to date and continue to push ahead on multiple fronts.
Thank you for reaching out and I hope we have been able to address your queries.”