Common shares of Inflazyme Pharmaceuticals Ltd. (IZP) were delisted from the Toronto Stock Exchange on Wednesday.
The Vancouver-based drug developer's shares will start trading Thursday on the NEX a new and separate board of the TSX Venture Exchange that provides a trading forum for listed companies that have fallen below the TSX Venture's listing standards.
Earlier this week, Inflazyme completed the previously announced sale of most of its research and development assets to Swedish pharmaceutical firm Biolipox AB.
Inflazyme received $4 million in cash for the sale of its PDE inhibitors and other drug technology. It could also receive up to $7 million in future milestones plus royalty payments when clinical studies of the inhibitors start.
Inflazyme's share price range during the past week: between $0.03 and $0.04; 52-week high: $0.30; 52-week low: $0.02.