Neoprobe Corp. (OTC:NEOP) shares are slated to begin trading on the NYSE Amex this week.
The stock exchange’s officials cleared company’s common stock to be listed on the market beginning Feb. 10, according to the company.
Neoprobe shares are currently traded on the Over-the-Counter Bulletin Board (OTCBB) system. The company began the application process last August.
"The NYSE Amex listing will provide Neoprobe with improved liquidity and expanded visibility in the investment community, allowing us to strengthen and grow our investor base," CEO David Bupp said in prepared remarks.
The Dublin, Ohio-based based developer of surgical and diagnostics products for oncology is currently developing two cancer-detecting drugs — Lymphoseek and RIGScan. Lymphoseek, a tracing agent that identifies cancerous lymph nodes in patients with breast cancer and melanoma, is much farther along and could enter the market this year. Cardinal Health has already signed on to market and distribute the drug. The company is enrolling breast cancer or melanoma patients in its Lymphoseek NEO3-09 Phase 3 clinical study, upon which the company plans to file a New Drug Application with the Food & Drug Administration. Neoprobe was in December granted a meeting with the FDA to discuss its plans to begin clinical testing of RIGScan this quarter.
In November, Neoprobe drummed up about $6 million through a private sales of securities, a move which saw its share price dip well below $2.00, but its stock has since gained value. The shares closed at $3.07 today, after rising over 3 percent.