Dyadic shares started trading on the Nasdaq on April 17, 2019.
"Our listing on the Nasdaq is a major milestone for the company and a true indicator of our growth,” said Dyadic International CEO Mark Emalfarb. “We believe that listing on the Nasdaq will enhance our visibility in the marketplace, increase the liquidity of our stock, broaden our shareholder base by attracting new investors and ultimately, build long-term shareholder value."
Investors cheered the news by sending shares in Dyadic shooting up nearly 9% to $3.53.
The Jupiter, Florida-based biotechnology platform company, engages in the development, and large scale manufacture of low-cost enzymes and other proteins for diverse market opportunities in the United States and Europe.
It leverages its proprietary C1 expression system to help bring biologic vaccines, therapeutic enzymes, proteins, biosimilars and drugs to market faster and at a lower cost.
In January this year, the company filed an application to list its stock on the tech-laden Nasdaq stock exchange.
Three years ago, Dyadic sold its industrial technology business to DuPont’s industrial biosciences business for $75 million in cash.
"We’ve grown the company through careful deals and through careful cash control," said Matthew Jones, chief commercial officer at Dyadic International. "We’ve also been able to announce previously our deal with DuPont about three years ago that has allowed us to grow the company, invest in R&D programs and collaborate with pharma and here we are. We are on the Nasdaq."
—(Updates with quotes from Mathew Jones Chief Commercial Officer)—
Contact Uttara Choudhury at [email protected]