OTC Markets Group Congratulates Organovo Holdings on Move to NYSE MKT
NEW YORK, July 11, 2013 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM) congratulates Organovo Holdings Inc. on its listing on the New York Stock Exchange's NYSE MKT.
In October 2012, Organovo, a biotechnology company focused on delivering breakthrough three-dimensional (3D) bioprinting technology, qualified for trading on OTCQX®, the best marketplace with qualified companies. In that time, the company's stock price has more than doubled to $5.40 and its market capitalization is now $318 million. Since joining OTCQX, Organovo's management team has increased shareholder value and achieved liquidity of over 120 million shares traded, representing approximately $478 million of dollar volume.
"Organovo's rapid growth has allowed them to smoothly graduate from OTCQX to NYSE MKT. We congratulate them on this important milestone and are proud to have helped contribute to their success as a public company," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "OTCQX is a springboard and proving ground for high-quality U.S. and global growth companies to execute their business plans and grow into a national stock exchange listing. In the past five years, over 300 companies have moved from our marketplaces to the NYSE and NASDAQ. We look forward to nurturing more companies like Organovo as they enter the public market and provide a robust and transparent platform for high quality trading of their shares."
"OTCQX helped us expand our investor base and increase our average daily trading volume, which was instrumental in enabling us to qualify for an NYSE MKT listing," said Keith Murphy, Chairman and CEO of Organovo Holdings. "We recognize the impact OTCQX has had on our success and appreciate the support OTC Markets Group has provided to ensure that success."
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace with Qualified Companies; OTCQB®, The Venture Stage Marketplace with U.S. Reporting Companies; and OTC Pink®, The Open Marketplace with Variable Reporting Companies. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
SOURCE OTC Markets Group Inc.