close

Cellectar, an OTC Stock, Eyes Nasdaq Jump to Boost Profile, Prospects

July 22, 2014

​Fenwick & West corporate partner Matt Rossiter spoke with Xconomy about the benefits and challenges for biotech companies such as Cellectar Biosciences in moving from an over-the-counter (OTC) stock to trading on the Nasdaq stock exchange.

Rossiter told the business news website that making the move to the Nasdaq can increase a company’s investor pool and provide greater liquidity.

He also noted that, with the present rise in investor interest in biotech companies, now might be a good time to make the move. “It helps because investors are more aware of the sector and more optimistic about its prospects,” he added.

Joining the Nasdaq can open doors to increased financing and visibility, Rossiter said, but “this is just a step on the journey toward building a company and also financing a company. The challenge is to capitalize on that in some way.”

The full article is available through the Xconomy website.