What is going on with ONPH?
Oncology Pharma (ONPH) stock surged today after biopharmaceutical company announced it had submitted its initial application to the NASDAQ to begin the process of moving its stock listing from the Pink Sheets to the Capital Markets Tier of the NASDAQ Exchange. Shares of ONPH rose 15% to $24.79 as of Thursday at 9:57am.
What does this mean for Oncology Pharma?
Oncology Pharma's NASDAQ application is a huge step for the company as they will be moving from an over the counter market to one of the most reputable exchanges in the world. ONPH's current Pink Sheet market only connects broker dealers electronically and has no trading floor. Although Pink Sheet stocks are usually inexpensive, volatile, and have the potential to bring high returns, they often lack financial transparency as there are no requirements to be listed.
Investors will see Oncology's proposed move to the Capital Markets Tier of the NASDAQ as a sign of stability, as ONPH will now have to fulfill certain criteria and requirements, including financial, liquidity, and corporate governance requirements. These could include stockholders’ equity of at least 4-5 million and unrestricted publicly held shares of one million. Although Capital Markets tier companies have the lowest market capitalization of the three tiers of the NASDAQ, a successful application should drive the stock price higher.
ONPH has a Long-Term Technical Rank of 45. Find out what this means to you and get the rest of the rankings on ONPH!
Oncology Pharma Inc is an oncology company. It is engaged in the development, manufacturing, and commercialization of therapeutics. Its NanoSmart's platform technology is a human-derived, antinuclear antibody (ANA) that targets areas of necrosis present in solid tumors. The company has developed a novel drug delivery vehicle that targets many types of cancer.
