TEL AVIV, Israel, June 27, 2018 /PRNewswire/ -- Therapix Biosciences Ltd. (Nasdaq: TRPX) a specialty, clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments, provides updates and dates in connection with the previous announcement made by Therapix Biosciences Ltd. ("Therapix" or the "Company") regarding the Company's intention to voluntarily delist its ordinary shares, NIS 0.1 par value each (the "Shares") solely from the Tel Aviv Stock Exchange Ltd. ("TASE"), the Company hereby updates the following:
In coordination with the TASE, the Shares will be delisted from the TASE on August 9, 2018 ("Delisting Date"), and until the Delisting Date, Therapix's Shares will continue to be traded on the TASE. The last trading day in which the Shares are to be traded on TASE will be August 7, 2018.
The Company's American Depositary Shares ("ADSs"), each representing forty (40) of the Company's Shares, shall continue to be traded on the Nasdaq Capital Market (the "Nasdaq").
Shareholders who are interested in continuing to hold or trade the Company's Shares on the Nasdaq should notify their bank or broker as soon as possible and request to convert their Shares to ADSs.
The Company will bear the costs and commissions associated with the conversion of the Shares to ADSs charged by the banks and brokers for all shareholders who convert their Shares on or before August 7, 2018. Every forty (40) Shares shall be converted to one (1) ADS.
The Company urges all holders of Shares that are traded on the TASE to convert their Shares into ADSs at the earliest.
Holders of the Company's Shares are encouraged to contact their banks or brokers as soon as possible with any questions about the conversion process.
About Therapix Biosciences:
Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of Senior Executives and Scientists. Our focus is creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the company is currently engaged in the following drug development programs based on repurposing an FDA-approved cannabinoid (Dronabinol): THX-110 for the treatment of Tourette syndrome (TS), for the treatment of Obstructive Sleep Apnea (OSA), and the treatment of Pain; THX-130 for the treatment of Mild Cognitive Impairment (MCI) and Traumatic Brain Injury (TBI); THX-150 for the treatment of infectious diseases; and THX-160 for the treatment of pain. Please visit our website for more information at www.therapixbio.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Because such statements deal with future events and are based on Therapix's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Therapix could differ materially from those described in or implied by the statements in this press release. For example, forward-looking statements include statements regarding the Company's plans with respect to its clinical trials and its intent to report material developments and information regarding such trials. In addition, historic results of scientific research and clinical and preclinical trials do not guarantee that the conclusions of future research or trials will suggest identical or even similar conclusions. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Therapix Biosciences Ltd.'s Annual Report on Form 20-F filed with the Securities and Exchange Commission (SEC) on April 30, 2018 and in subsequent filings with the SEC. Except as otherwise required by law, Therapix disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.
Investor Relation Director
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SOURCE Therapix Biosciences Ltd.