Transgene to voluntarily delist from Nasdaq

By Jennifer Chiou

New York, Sept. 21 - Transgene said it has chosen to delist its American Depositary Shares from the Nasdaq National Market effective at the close of trading on Sept. 23.

The company made its decision based on the low trading volume of the ADSs and the costs of maintaining dual listings on the Nasdaq and Paris Eurolist markets.

Transgene said the savings will be used to develop Transgene's clinical pipeline.

The ADSs represented 0.62% of Transgene's share capital at the end of August. During the last three months, the daily traded volume on the Nasdaq averaged less than 5% of the total shares traded.

In addition, the company decided to terminate its American Depository Receipt facility with the Bank of New York.

Based in Strasbourg, France, Transgene is a biopharmaceutical company focused on therapeutic vaccines and immunotherapeutic products in oncology and infectious diseases.

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