NEW YORK, March 13, 2017 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced Profound Medical Corp. (TSX-V: PRN;OTCQX: PRFMF), an emerging medical device company focused on prostate care, has qualified to trade on the OTCQX® Best Market. Profound Medical upgraded to OTCQX from the Pink® market.
Profound Medical begins trading today on OTCQX under the symbol "PRFMF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are proud to welcome Profound Medical to the OTCQX market," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "OTCQX companies are distinguished for their high-quality financial and operating standards and commitment to providing a transparent and efficient trading market for their investors. We look forward to helping Profound Medical expand its visibility in the U.S. investment market."
"The United States is a key target market for Profound's TULSA-PRO® system and many of our shareholders are U.S.-based," said the Company's CEO, Dr. Arun Menawat. "Accordingly, trading on OTCQX is a natural evolution for Profound, which should increase our visibility and complement our efforts to broaden our U.S. shareholder base."
Profound Medical was sponsored for OTCQX by Troutman Sanders LLP, a qualified 3rd party firm responsible for providing guidance on OTCQX requirements and recommending membership.
The Profound Medical team is committed to the effort to achieve a new therapeutic standard in prostate cancer. For the millions of men currently living with prostate cancer, and the thousands more who are diagnosed with it every year, current treatment options often mean having to make difficult choices based on potential side effects that can significantly impact quality of life. The company's mission is to profoundly change the standard of care by creating a tomorrow where clinicians can confidently ablate cancerous prostate tissue with precision, while actively protecting critical anatomy from potential side effects; a tomorrow where patients have access to a safe, fast and effective treatment option, so they can quickly return to their daily lives.
Established in 2008, Profound Medical is commercializing a novel technology, TULSA-PRO® system, which combines real-time Magnetic Resonance Imaging with transurethral, robotically-driven therapeutic ultrasound and closed-loop thermal feedback control that is designed to provide precise ablation of the prostate while simultaneously protecting critical surrounding anatomy from potential side effects. TULSA-PRO® system is CE Marked and Profound is sponsoring a multicenter, prospective FDA-registered clinical trial, TACT Pivotal Clinical Trial, which is designed to further demonstrate the safety and effectiveness of this innovative technology.
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