Cynapsus move to list itself on the Nasdaq last month was more than an attempt to raise its visibility in the United States. It was also about raising enough capital to get it through some pivotal Phase 3 trials for its Parkinson’s drug delivery system, said the company’s CEO Anthony Giovinazzo. ‘It brought us some very sophisticated investors from the United States who know this space quite well which gives us some credibility,’ said Giovinazzo. ‘And we raised a substantial amount of money with the listing which allows us to pursue the program we are currently embarked on.’ Cynapsus was already trading on the Toronto exchange when it sold 5.2 million common shares at $14 per share last month for total gross proceeds of approximately $72.5 million. Cynapsus is developing and preparing to commercialize a Phase 3, fast-acting, easy-to-use, sublingual thin film for the on-demand turning ON of debilitating OFF episodes associated with Parkinson’s disease.
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