NEW YORK, July 18, 2013 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Cynapsus Therapeutics Inc. (OTCQX: CYNAF; TSX.V: CTH), a Canada-based specialty pharmaceutical company, has been approved to trade on OTCQX®, the best marketplace with qualified companies.
Cynapsus Therapeutics began trading today on OTCQX International, a segment of the OTCQX marketplace reserved for high-quality non-U.S. companies that are listed on a qualified international exchange, undergo management reviews and provide their home country disclosure to U.S. investors. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome Cynapsus Therapeutics to OTCQX," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "OTCQX provides qualifying companies like Cynapsus the ability to distinguish themselves in the U.S. market and increase their visibility with traders, investors, analysts and the media through high-quality disclosure, transparent trading and ease of access to company information. We look forward to supporting the management team at Cynapsus as they continue to grow the company and provide a robust public market for their shares."
"Qualifying for OTCQX is an important milestone for Cynapsus and demonstrates our commitment to providing our U.S. investors convenient access to the same timely news and information enjoyed by investors in our home market," said Anthony Giovinazzo, President and CEO of Cynapsus Therapeutics.
Troutman Sanders LLP will serve as Cynapsus Therapeutics' Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements and U.S. securities laws.
Cynapsus is a specialty pharmaceutical company developing the only non-injectable (i.e., sublingual) delivery of the only approved drug (apomorphine) to be used as a rescue therapy for "off" motor symptoms of Parkinson's disease.
Cynapsus Therapeutics trades in the U.S. on OTCQX under the symbol "CYNAF."
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.