Ambrx Biopharma Inc., a clinical-stage biologics company, announced in early March that it will voluntarily transfer its stock exchange listing to the Nasdaq stock market from the New York Stock Exchange. The company’s American Depositary Shares are due to begin trading as a Nasdaq-listed security on March 17.
“The listing of our stock on the Nasdaq represents a significant milestone in our growth as a publicly-traded company and is an important step that will help facilitate our mission to discover, develop, and deploy medicines to treat cancer,” Daniel J. O’Connor, President and Chief Executive Officer, said in a statement. “We believe this listing will increase our visibility in the marketplace and ultimately enhance long-term shareholder value.”
The La Jolla-based company creates next-generation antibody-drug conjugates and other engineered therapies to modulate the immune system for a variety of cancer indications. It uses an expanded genetic code technology platform and has a portfolio of medications that are designed to maximize safety and efficacy.
Ambrx was founded in 2003, emerging from The Scripps Research Institute.