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Clinuvel Pharmaceuticals Limited reports that its American Depositary Share (ADS) began trading on the Nasdaq Stock Market on 20 July 2026 (New York time) under the ticker CUVL. This trading start completes the uplift of its previous Level I American Depositary Receipt CLVLY to a Level II ADS program.
The company is a global biopharmaceutical group focused on melanocortin peptide therapies for genetic, metabolic, and dermatological disorders. Its lead therapy SCENESSE® (afamelanotide 16mg) is approved for commercial distribution in Europe, the USA, Canada, Israel, and Australia for adult patients with erythropoietic protoporphyria (EPP).
CLINUVEL PHARMACEUTICALS LIMITED reports that its American Depositary Share (ADS) is expected to commence trading on the Nasdaq Stock Market on 20 July 2026 under the ticker CUVL, after the U.S. SEC deemed its publicly filed Form 20-F Registration Statement effective on 17 July and Nasdaq approved the listing.
The company’s existing over-the-counter ADR CLVLY will be upgraded from Level I to a Level II ADS on Nasdaq, with each ADS representing one ordinary share listed on the ASX. CLINUVEL does not propose to raise capital or issue new shares as part of this upgraded depositary share program, and current CLVLY holders are not required to take any action. CUVL will trade on the Nasdaq Global Select Market, which provides greater visibility among U.S. investors. CLINUVEL highlights this move as part of a broader shift of its business toward North America while continuing to commercialise its lead therapy SCENESSE.
Clinuvel Pharmaceuticals Limited and The Bank of New York Mellon outline the terms governing Clinuvel’s American Depositary Shares, each representing one ordinary share of the Australian company. The revised receipt form reflects that Clinuvel is now subject to periodic reporting under the U.S. Securities Exchange Act of 1934, giving ADS holders access to the company’s SEC-filed reports via EDGAR. The document describes how ADSs are issued, transferred, and surrendered in exchange for underlying shares, including the ability to hold ADSs in certificated or uncertificated (book-entry/DRS) form.
The text details fees and charges borne by ADS holders, such as up to $5.00 per 100 ADSs for issuance or surrender, and up to $0.05 per ADS for cash and annual depositary services. It explains dividend conversion from foreign currency into U.S. dollars, tax withholding, voting procedures for underlying shares, treatment of corporate actions (rights issues, tender offers, redemptions, replacements), and circumstances under which the depositary may suspend deposits, withdrawals, or terminate the program. Liability limitations, amendment and termination mechanics, DTC’s Direct Registration and Profile systems, New York jurisdiction, and jury trial and sovereign immunity waivers are also set out for ADS owners.