OTC Markets Group Welcomes Cipher Pharmaceuticals Inc. to OTCQX

Rhea-AI Summary

OTC Markets Group Inc. announced that Cipher Pharmaceuticals Inc. has qualified to trade on the OTCQX Best Market, upgrading from the Pink market. Cipher Pharmaceuticals Inc. will begin trading under the symbol CPHRF, providing U.S. investors with access to financial disclosure and real-time quotes. This move is significant for companies seeking transparent trading for U.S. investors, with streamlined market standards allowing international companies to utilize their home market reporting in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Cipher's Interim CEO, Craig Mull, highlighted the importance of this milestone, aiming to attract more attention from U.S. investors and make it easier for them to purchase shares in Cipher.

NEW YORK, Jan. 29, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Cipher Pharmaceuticals Inc. (TSX: CPH; OTCQX: CPHRF), a specialty pharmaceutical company, has qualified to trade on the OTCQX® Best Market. Cipher Pharmaceuticals Inc. upgraded to OTCQX from the Pink® market.

Cipher Pharmaceuticals Inc. begins trading today on OTCQX under the symbol “CPHRF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors.  For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.  

Craig Mull, Interim Chief Executive Officer of Cipher commented, “Today’s announcement is an important milestone for Cipher. We have attracted more attention from investors in the United States recently, and our strategy to trade through a new OTCQX stock quotation will make it easier for investors in the world’s largest capital market to purchase shares in Cipher.”

Troutman Pepper Hamilton Sanders LLP acted as the company’s OTCQX sponsor.

About Cipher Pharmaceuticals Inc.
Cipher Pharmaceuticals Inc. (TSX: CPH; OTCQX: CPHRF) is a specialty pharmaceutical company with a robust and diversified portfolio of commercial and early to late-stage products. Cipher acquires products that fulfill unmet medical needs, manages the required clinical development and regulatory approval process, and currently markets those products either directly in Canada or indirectly through partners in Canada, the U.S. and South America. For more information, visit www.cipherpharma.com.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

What market did Cipher Pharmaceuticals Inc. upgrade to?

Cipher Pharmaceuticals Inc. upgraded to the OTCQX Best Market from the Pink market.

What is the ticker symbol for Cipher Pharmaceuticals Inc. on the OTCQX market?

Cipher Pharmaceuticals Inc. will begin trading under the symbol CPHRF on the OTCQX market.

What are the requirements for companies to qualify for OTCQX?

To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

Who acted as Cipher Pharmaceuticals Inc.'s OTCQX sponsor?

Troutman Pepper Hamilton Sanders LLP acted as the company's OTCQX sponsor.