Neoprobe Corporation (OTCBB: NEOP), a diversified developer of innovative oncology surgical and diagnostic products, announced today it has initiated the application process for listing on the NYSE: AMEX stock exchange.
David C. Bupp, Neoprobe's President and CEO, said, "A potential listing on NYSE: AMEX would serve as a positive milestone for our Company and would enhance shareholder value. A listing would provide greater market exposure, especially to institutional investors, and provide increased liquidity for our investors. We continue to work diligently with the officials at NYSE: AMEX to expedite the listing process. This may take a number of weeks to complete prior to receiving final approval for listing and will be dependent on our continued compliance with the qualitative and quantitative listing standards."
As a result of recently becoming S-3 eligible, the Company announced it filed a shelf registration statement. In detailing the Company's registration, Mr. Bupp said, "While our Lymphoseek development program is fully funded, the shelf registration provides our Company with flexibility to support our corporate objectives, including potentially funding our RIGScan CR development efforts. We have also included secondary shares from our primary investor, Platinum-Montaur Life Sciences LLC, as a means to diversify our institutional stockholder base to further support the stable appreciation of value for our shareholders."
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