Percheron Therapeutics (ASX:PER) has ended its American Depository Receipt (ADR) facility with financial services provider BNY Mellon, according to a Tuesday filing with the Australian bourse.
The ADR, trading with the ticker 'ATHJY' will no longer be quoted via over-the-counter (OTC) markets, the filing said.
The biotechnology company has now uplisted its foreign shares (F shares), trading with the ticker 'ATHJF', to the Over-the-Counter Bulletin Board (OTCQB) tier of the OTC markets.
The company has applied to the US Financial Industry Regulatory Authority for sponsorship of its F shares and a ticker change from 'ATHJF' to 'PERCF.'
These moves are expected to improve access to the company's securities to US investors and reduce costs for the company.
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