Nasdaq Iceland Approves the Request for Trading of Alvotech’s Shares on the Main Market
Nasdaq Iceland has approved Alvotech S.A. for admission to trading on the Nasdaq Iceland Main Market.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Nasdaq Iceland has approved Alvotech S.A. for admission to trading on the Nasdaq Iceland Main Market. The shares will transition from the First North Market to the Main Market after the prospectus is passported to Iceland. Alvotech has been listed in the US since June 16, 2022, and will retain the ticker symbol ALVO on the Main Market. The Board of Directors previously approved this transition on August 12, 2022. Alvotech specializes in developing biosimilar medicines, targeting markets worldwide, with a diverse pipeline of eight biosimilar candidates.
Positive
- Admission to the main market may enhance visibility and investor confidence.
- Alvotech's focus on biosimilar medicines positions it in a growing market with potential for expansion.
Negative
- None.
Details
News Market Reaction – ALVO
The recorded move for ALVO in the trading session of this news was +3.41%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Nasdaq Iceland has approved Alvotech S.A’s (“Alvotech”) request for admission to trading of its shares on the Nasdaq Iceland Main Market (“Main Market”). Alvotech’s shares will be admitted to trading on the Main Market following the passporting of Alvotech’s prospectus to Iceland. Alvotech’s shares will be delisted from the Nasdaq Iceland First North Market after market closing, on the day preceding the first day of trading of the shares on the Main Market.
Alvotech’s shares have been listed on the Nasdaq Stock Market in the US since June 16, 2022 and on the Nasdaq First North Growth Market in Iceland since June 23, 2022 under the ticker symbol “ALVO”. On the Main Market, Alvotech’s shares will also be listed under the ticker symbol “ALVO”.
On August 12, 2022 Alvotech announced that the Board of Directors had approved a plan to transfer trading of Alvotech’s shares from the Nasdaq Iceland First North Growth Market to the Main Market.
About Alvotech
Alvotech is a biotech company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in the biosimilar space by delivering high quality, cost-effective products, and services, enabled by a fully integrated approach and broad in-house capabilities. Alvotech’s current pipeline contains eight biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the United States, Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East. Alvotech’s commercial partners include Teva Pharmaceuticals, a US affiliate of Teva Pharmaceutical Industries Ltd. (US), STADA Arzneimittel AG (EU), Fuji Pharma Co., Ltd (Japan), Cipla/Cipla Gulf/Cipla Med Pro (Australia, New Zealand, South Africa/Africa), JAMP Pharma Corporation (Canada), Yangtze River Pharmaceutical (Group) Co., Ltd. (China), DKSH (Taiwan, Hong Kong, Cambodia, Malaysia, Singapore, Indonesia, India, Bangladesh and Pakistan), YAS Holding LLC (Middle East and North Africa), Abdi Ibrahim (Turkey), Kamada Ltd. (Israel), Mega Labs, Stein, Libbs, Tuteur and Saval (Latin America) and Lotus Pharmaceuticals Co., Ltd. (Thailand, Vietnam, Philippines, and South Korea). Each commercial partnership covers a unique set of product(s) and territories. Except as specifically set forth therein, Alvotech disclaims responsibility for the content of periodic filings, disclosures and other reports made available by its partners. For more information, please visit www.alvotech.com. None of the information on the Alvotech website shall be deemed part of this press release.
Alvotech, Investor Relations and Global Communication
Benedikt Stefánsson
alvotech.ir[at]alvotech.com
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