EDMONTON, March 7 /PRNewswire/ - Cyplasin Biomedical Ltd.,(OTCQB: CPBM) (Frankfurt XYI1:FRA) is a product-oriented, specialty pharmaceutical company focused on developing products for the multi-billion dollar hepatitis C virus (HCV) market announced its shares are now being exclusively quoted on OTC Markets Group's OTC Link™ platform.
This change was not caused by any action or inaction by Cyplasin, which continues to be in full compliance with all of its U.S. Securities and Exchange Commission (SEC) reporting requirements. OTC Link is the world's largest interdealer quotation system for broker-dealers. Launched in 2010, OTCQB® was created to allow investors to easily identify U.S. reporting OTC companies.
OTCQB is the 2nd highest tier of the OTC marketplace, classified by development-stage companies that are current in their reporting obligations to the SEC or U.S. banking or insurance regulator. The platform supports an open network of competing broker-dealers that provide investors with the best prices in more than 10,000 OTC securities. In 2010 alone, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange.
According to otcmarkets.com, in the past 30 calendar days, there have been 837 publicly traded companies that have moved from being dually quoted (OTCBB and OTC Link) to being quoted exclusively on the OTC Link platform. However during the transition, some financial Web sites may report Cyplasin Biomedical under the symbol (CPBM.PK) which is not correct.
There are three tiers in the OTC Marketplace. The first tier is OTCQX and is for companies that have SEC reporting requirements and that meet certain asset/financial standards. The second tier is OTCQB and is where Cyplasin currently trades. Companies within this tier do not meet the higher asset and other listing requirements of the first tier; but still have full SEC reporting obligations. In order to maintain the OTCQX or OTCQB level a company must always be current with its SEC reporting requirements. The third tier is designated OTC Pink, which is the market for speculative trading.
ABOUT CYPLASIN: http://www.c-pharma.net/
Cyplasin Biomedical is a publically-traded specialty pharmaceutical company (OTCQB:CPBM ) with headquarters in Edmonton, Alberta. Cyplasin has amassed a portfolio of key products for the treatment and prevention of HCV infection, which affects over 4 million people in the U.S. and several hundred million people worldwide.
Cyplasin's technology encompasses the use of recombinant DNA technology to manufacture recombinant cytokines and virus like particles (VLPs). VLPs can be engineered to incorporate various viral and non-viral antigens for use as vaccines against many different types of targets such as hepatitis C. Cyplasin is using the technology to develop a hepatitis C vaccine ( C- Vaxin) to prevent hepatitis C viral infection. The Company is also pursuing a revenue generation strategy by selling highly profitable drugs (C-Virin & C-Pegferon) for use in the hepatitis C market.
About OTC Markets Group, Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. OTC Link platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity-trading venue, after NASDAQ and the NYSE. OTC Markets Group, Inc. categorizes the wide spectrum of OTC-traded companies into three tiers - OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB (the U.S. reporting company marketplace for development stage companies), and OTC Pink (the speculative trading marketplace) - so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group, Inc. makes the unlisted markets more transparent, informed and efficient, visit www.otcmarkets.com.
The information set forth above includes "forward-looking statements" as outlined in the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Words such as "anticipate," "estimate," "expect," "project," "intend," "may," "plan," "predict," "believe," "should" and similar words or expressions are intended to identify forward-looking statements. Investors should not place undue reliance on forward-looking statements, and the Company undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements reflect the present expectation of future events of our management and are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. These factors and risks include, but are not limited to the Cautionary Statements and Risk Factors, filed as Exhibit 99 and Section 1A to the Company's Annual Report on Form 10-K, incorporated herein by reference. Investors are specifically referred to such Cautionary Statements and Risk Factors for discussion of factors, which could affect the Company's operations, and forward-looking statements contained herein.
SOURCE Cyplasin Biomedical Ltd.