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More woes for the LSE as biotech firm ditches AIM for NASDAQ

A British medical research company, e-therapeutics, is leaving London’s AIM stock market due to a perceived lack of investor enthusiasm and is considering a switch to the US-based NASDAQ. The company, which uses computational methods …

A British medical research company, e-therapeutics, is leaving London’s AIM stock market due to a perceived lack of investor enthusiasm and is considering a switch to the US-based NASDAQ.

The company, which uses computational methods for drug discovery, stated disappointment with the “lack of institutional UK interest” and the “risk appetite” of UK markets. This follows a period of exits from the London Stock Exchange, including two companies departing AIM last week and a recent buyout of software firm Gresham Technologies.

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e-therapeutics CEO Ali Mortazavi pointed to the strong performance of US biotech indices in 2023 and the “record amounts of capital being raised” there. He said the firm struggled to attract UK investors despite commitments from its two largest shareholders. The company believes a US listing will provide access to a “far larger pool of capital.”

While acknowledging a short-term decrease in liquidity, Mortazavi maintained that delisting serves the “best interests of all shareholders.”


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