The Stock of OXIS International, Inc. (OTCMKTS:OXIS) soared by a wide margin after the company expressed intentions of listing on a NASDAQ. Entering into an evaluation period to decide on the company’s next strategy, Chairman and CEO Tony Cataldo requested for suspension of trading of the stock on the Euronext exchange. However, the company noted in its press release that its stock will continue to list and trade on OTCQB market.
Desire to up list
Cataldo said that in view of the strategies adopted in 2014 and 2015, the company is trying to evaluate both component and markets of its business. He added that the company is in the process to review the value that it is providing to its shareholders by trading in multiple markets. Cataldo went on to state that OXIS International, Inc. (OTCMKTS:OXIS) desires to list on a broader exchange such as NASDAQ. The desire comes on the back of the company’s continuous endeavor to include high-value biotech assets in its portfolio. The company will make a decision on the resumption of trading of its shares on the Euronext exchange once the evaluation period is over.
Resumption after evaluation
Meanwhile, OXIS International, Inc. (OTCMKTS:OXIS) clarified that it is the sole decision of the company to suspend trading on the Euronext. It added that the company has full approval to trade on both OTCQB and Euronext exchange. The company also arranged a conference call yesterday in order to convey more details about its decision to suspend trading on the Euronext. It is to be noted that the company is a biotechnology firm that develops and commercializes biocancer therapies. Some of the products of the company include Prograce and Reverge.
The stock of OXIS International, Inc. (OTCMKTS:OXIS) exploded by nearly 19% and closed the session at $0.0540. Nearly 3.73 million numbers of shares traded on the day.