- Genmab establishes Sponsored Level 1 ADR program
- Genmab ADRs can be traded on US over-the-counter (OTC) market effective today
- ADR ticker symbol GMXAY
COPENHAGEN, Denmark, May 31, 2013 (GLOBE NEWSWIRE) -- Genmab A/S (Copenhagen:GEN) announced today the establishment of a Sponsored Level 1 ADR program in the United States. Deutsche Bank Trust Company Americas will act as the depositary bank for the Genmab ADR program.
Genmab ADRs are US dollar negotiable certificates representing ordinary Genmab shares; two Genmab ADRs represent one Genmab share. Genmab ADRs can be traded on the US over-the-counter (OTC) market effective May 31, 2013 under the ticker symbol GMXAY. Ordinary Genmab shares are traded on the NASDAQ OMX Copenhagen A/S under the ticker symbol GEN.
"We have established an ADR program for Genmab as a service to offer US investors an alternative way to buy Genmab shares. We hope this effort will serve to broaden Genmab's international shareholder base and increase general interest in the company," said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.
An ADR program allows US investors to more easily purchase, hold or sell non-US securities. ADRs represent ordinary shares of a company which are traded on a foreign (non-US) stock exchange. In a Sponsored Level 1 ADR program, a US investment broker can purchase or sell a company's ordinary shares on the market; the purchased shares are deposited with a depositary bank. In exchange, the depositary bank issues ADR shares which are traded in US dollars on the OTC market.
About Genmab A/S
Genmab is a publicly traded, international biotechnology company specializing in the creation and development of differentiated human antibody therapeutics for the treatment of cancer. Founded in 1999, the company's first marketed antibody, ofatumumab (Arzerra(r)), was approved to treat chronic lymphocytic leukemia in patients who are refractory to fludarabine and alemtuzumab after less than eight years in development. Genmab's validated and next generation antibody technologies are expected to provide a steady stream of future product candidates. Partnering of innovative product candidates and technologies is a key focus of Genmab's strategy and the company has alliances with top tier pharmaceutical and biotechnology companies. For more information visit www.genmab.com.
Rachel Curtis Gravesen, Senior Vice President, Investor Relations & Communications
T: +45 33 44 77 20; M: +45 25 12 62 60; E: email@example.com
This Company Announcement contains forward looking statements. The words "believe", "expect", "anticipate", "intend" and "plan" and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with pre-clinical and clinical development of products, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. For a further discussion of these risks, please refer to the risk management sections in Genmab's most recent financial reports, which are available on www.genmab.com . Genmab does not undertake any obligation to update or revise forward looking statements in this Company Announcement nor to confirm such statements in relation to actual results, unless required by law.
Genmab A/S and its subsidiaries own the following trademarks: Genmab(r); the Y-shaped Genmab logo(r); HuMax(r); HuMax-CD20(r); DuoBody(r), HexaBodyTM and UniBody(r). Arzerra(r) is a trademark of GlaxoSmithKline.
Company Announcement no. 25
CVR no. 2102 3884
1260 Copenhagen K