Nasdaq (Nasdaq: NDAQ) announces that trading in the shares of Cinclus Pharma Holding AB (ticker name: CINPHA) will commence today on the Nasdaq Stockholm Main Market. Cinclus Pharma is a Mid Cap company within the Health Care sector. Cinclus Pharma is the 15th company to be admitted to trading on Nasdaq’s Nordic and Baltic markets* in 2024.
Cinclus Pharma is a clinical stage pharmaceutical company focused on the development of the drug candidate linaprazan glurate, a proprietary “prodrug” of the molecule linaprazan, originally developed by AstraZeneca. Linaprazan glurate represents a new and innovative mode of action for the treatment of erosive gastroesophageal reflux disease (eGERD) where there is currently a lack of sufficiently effective treatment options.
“We are very excited about this important step in Cinclus Pharma’s development. By becoming the product that can offer 24-hour acid control and healing for the most severely ill patients with eGERD, we have the potential to drive a paradigm shift in the treatment of gastric acid-related diseases. The listing on Nasdaq Stockholm is a logical and important step that enables continued development of linaprazan glurate. We have received very positive feedback from investors, making us feel incredibly excited about our future as a listed company,” said Christer Ahlberg, CEO of Cinclus Pharma.
Adam Kostyál, President of Nasdaq Stockholm, said “We warmly congratulate Cinclus Pharma on their successfully completed IPO. It is truly an honor to welcome them as they embody the pioneering spirit and innovation that define the Health Care sector companies that choose to partner with Nasdaq. We look forward to supporting them in their journey as a publicly traded company.”
*Main Markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm as well as Nasdaq Baltic.
