Shard Capital initiated coverage on Motif Bio Plc (LON:MTFB) when they floated on AIM in April 2015 at 20p. On admission to AIM the company planned to develop a best-in-class drug that was targeting bacteria that were resistant to most other commonly used drugs. A lot has happened since that date and is documented in our update note on 3rd May 2016 and listed below:
The developing story appears to have been well received by investors with the shares currently trading at 57p on 3rd August.
On 13th July the company announced that it had filed a registration statement for a proposed U.S. Public Offering of American Depositary Shares (ADS). It also applied to have their ADSs listed on the NASDAQ Global Select Market. Motif Bio followed up on 28th July announcing that it had filed an amended registration statement with the U.S. Securities and Exchange Commission, which included a preliminary prospectus for the proposed offering. It is hoped that a NASDAQ listing will open the doors to more specialist investors and analysts who understand biopharmaceutical companies. With the perception of strong liquidity, of a large pool of capital and the sense of good appetite from US investors for high risk biotech stocks the NASDAQ listing may also excite UK investors. Motif Bio will continue to trade on AIM in London. Shard looks forward to further news.
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