Oncolytics Biotech Inc. said its common stock was approved for trading on the Nasdaq Capital Market under the ticker symbol ONCY.
Oncolytics President and CEO Matt Coffey said the listing will help broaden the company's exposure to biotech focused institutional investors while expanding access to capital.
The Canadian biopharmaceutical company's stock will also continue trading on the TSX under the ONC ticker symbol.
The company also priced a public offering of 1,372,213 common shares at US$5.83 apiece to raise about US$8 million in gross proceeds.
The company expects to use the net proceeds for working capital purposes.
The offering is expected to close by June 5 with Ladenburg Thalmann & Co. Inc. serving as its underwriter and sole book-running manager.
The underwriter can buy an additional 205,832 shares from the company.
