ADELAIDE, Australia and CAMBRIDGE, Mass., July 25, 2023 (GLOBE NEWSWIRE) -- Bionomics Limited (ASX:BNO, NASDAQ:BNOX) (Bionomics or the Company) a clinical-stage biotechnology company developing novel, first-in-class, allosteric ion channel modulators to treat patients suffering from serious central nervous system (CNS) disorders with high unmet medical need, today announced that it has submitted a formal request to the Australian Securities Exchange (“ASX”) to be removed from the official list of the ASX, in keeping with the Company’s ongoing transformation to a U.S. focused organization. The main consequence of an ASX delisting for shareholders is that, from the time the proposed ASX delisting is scheduled to take effect on August 28, 2023, Bionomics Shares will no longer be quoted or traded on the ASX, and will only be tradable in the form of American Depositary Shares on the NASDAQ Global Market (NASDAQ) under the symbol BNOX.
“Bionomics is approaching several very important value-inflection milestones for our late-stage clinical development program with BNC210, a first and best-in class a7 nicotinic receptor negative allosteric modulator under evaluation in patients with Social Anxiety Disorder (SAD) and Post-Traumatic Stress Syndrome (PTSD), in the coming quarters,” said Spyros Papapetropoulos, M.D. Ph.D., Bionomics’ President and CEO; “As we continue our transformation to a U.S.-focused organization, we would like to deepen our engagement with the broadest range of potential investors and maximize Bionomics’ access to capital and financing opportunities while reducing costs and compliance obligations associated with a dual listing. We believe delisting from the ASX and focusing on a primary listing on the NASDAQ will increase our trading volume and liquidity, and consequently will enable Bionomics to fulfill these objectives and support continued value creation for patients, investors, and our stakeholders.”
Additional announcements will be made to the ASX, and notices will be sent to shareholders on the Australian share register, outlining the proposed delisting process and timeline, and their available options. All information will be made available at https://ir.bionomics.com.au/.
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About Bionomics Limited
Bionomics (ASX:BNO, NASDAQ:BNOX) is a clinical-stage biotechnology company developing novel, first-in-class, allosteric ion channel modulators to treat patients suffering from serious central nervous system (“CNS”) disorders with high unmet medical need. Bionomics is advancing its lead drug candidate, BNC210, an oral, proprietary, selective negative allosteric modulator of the a7 nicotinic acetylcholine receptor, for the acute treatment of Social Anxiety Disorder (SAD) and chronic treatment of Post-Traumatic Stress Disorder (PTSD). Beyond BNC210, Bionomics has a strategic partnership with Merck & Co., Inc. (known as MSD outside the United States and Canada) with two drugs in early-stage clinical trials for the treatment of cognitive deficits in Alzheimer’s disease and other central nervous system conditions. Bionomics’s pipeline also includes preclinical assets that target Kv3.1/3.2 and Nav1.7/1.8 ion channels being developed for CNS conditions of high unmet need.
www.bionomics.com.au
Forward Looking Statement
Bionomics cautions that statements included in this press release that are not a description of historical facts are forward-looking statements. Words such as “may,” “could,” “will,” “would,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “intend,” “predict,” “seek,” “contemplate,” “potential,” “continue” or “project” or the negative of these terms or other comparable terminology are intended to identify forward-looking statements. These statements include the Company’s plans to increase trading volume and liquidity, and advance the development of its product candidates, the timing of achieving any development or regulatory milestones, and the potential of such product candidates, including to achieve any benefit or profile or any product approval or be effective. The inclusion of forward-looking statements should not be regarded as a representation by Bionomics that any of its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company’s business and other risks described in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 20-F filed with the SEC on October 14, 2022, and its other reports. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Bionomics undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. Further information regarding these and other risks is included in Bionomics’ filings with the SEC which are available from the SEC’s website (www.sec.gov) and on Bionomics’ website (www.bionomics.com.au) under the heading “Investor Center.” All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
