Aradigm Announces NASDAQ Listing
Shares to Begin Trading on Wednesday, June 11, 2014
HAYWARD, Calif. -- June 9, 2014
Aradigm Corporation (“Aradigm” or the “Company”) (OTC BB:ARDMD.OB) is pleased
to announce that its common shares have been approved for listing on the
NASDAQ Capital Market.
Aradigm expects its shares to begin trading on NASDAQ on Wednesday, June 11,
2014. The Company will trade under the ticker symbol "ARDM.”
"The move to NASDAQ is a significant milestone for Aradigm and underscores our
commitment to grow the value of our Company and broaden our shareholder base,"
said Igor Gonda, President and CEO of Aradigm Corporation. "As we continue to
build on the positive momentum generated throughout this year with the start
of our ORBIT-3 and ORBIT-4 Phase III clinical trials with Pulmaquin^® for
bronchiectasis and our recent QIDP designation from FDA for Pulmaquin for this
disease, we are very pleased to begin trading on NASDAQ. We believe it will
provide more liquidity for our shareholders. The strong fundamentals of the
Company together with the increased visibility that NASDAQ will provide should
assist us in maximizing shareholder value over the short and long term."
"We welcome Aradigm Corporation to the NASDAQ family of listed healthcare
companies," commented Robert H. McCooey, Jr., Senior Vice President of New
Listings and Capital Markets, NASDAQ OMX. "Aradigm embodies the strategic
vision and innovative thinking that characterizes our listed companies. We
congratulate Aradigm on its listing on the NASDAQ Capital Market and look
forward to supporting their continued success."
Ciprofloxacin, available in oral and intravenous formulations, is a widely
prescribed antibiotic. It is used to treat acute lung infections and is often
preferred because of its broad-spectrum antibacterial activity against various
bacteria, such as Pseudomonas aeruginosa. Pulmaquin is a dual release
formulation composed of a mixture of liposome encapsulated and unencapsulated
ciprofloxacin. It is being evaluated in two Phase III studies to determine its
safety and effectiveness as a once-a-day inhaled formulation for the chronic
treatment of non-CF BE. The ORBIT-3 study began dosing patients in April 2014
and ORBIT-4 will begin dosing patients in 1H 2014.
Pulmaquin has been extensively tested through preclinical studies and a Phase
IIb study (ORBIT-2). Previous studies have demonstrated no significant
clinical safety concerns.
Aradigm has been granted orphan drug designations for inhaled liposomal
ciprofloxacin as well as for inhaled free ciprofloxacin for non-CF
bronchiectasis in the U.S. In addition, the U.S. Food and Drug Administration
(FDA) has designated Pulmaquin as a Qualified Infectious Disease Product
(QIDP). The QIDP designation is granted for treatment of non-cystic fibrosis
bronchiectasis (non-CF BE) patients with chronic lung infections with
In 2013, Aradigm granted an exclusive, world-wide license for the Company’s
inhaled liposomal ciprofloxacin product candidates for the indication of
non-CF BE and other indications to Grifols S.A. More information on the terms
of this license may be found in the Company’s Annual Report on Form 10-K for
the year ended December 31, 2013 filed with the SEC on March 13, 2014.
Aradigm is an emerging specialty pharmaceutical company focused on the
development and commercialization of drugs delivered by inhalation for the
prevention and treatment of severe respiratory diseases. Aradigm has product
candidates addressing the treatment of non-CF BE, cystic fibrosis and
prevention of respiratory and other diseases in tobacco smokers through
smoking cessation. Aradigm is also developing Pulmaquin and a liposomal
ciprofloxacin formulation as potential medications for the prevention and
treatment of high threat and bioterrorism infections, such as inhaled
tularemia, pneumonic plague, Q fever and inhaled anthrax. In addition,
Aradigm’s liposomal ciprofloxacin formulations are being tested against
pulmonary non-tuberculous mycobacterial infections in preclinical studies
funded by NIH.
Disclaimer and Forward-Looking Statements
The facts and figures contained in this news release which do not refer to
historical data are “projections and forward-looking statements”. The words
and expressions like “believe”, “hope”, “anticipate”, “predict”, “expect”,
“intend”, “should”, “try to achieve”, “estimate”, “future” and similar
expressions, insofar as they are related to Aradigm, the effect the NASDAQ
listing will have on the Company’s share price – now and in the future, the
ability of the NASDAQ listing to provide more liquidity for shareholders, the
prospects for Aradigm’s inhaled ciprofloxacin product formulations to
successfully complete clinical trials and to result in approved products, and
the ability of Grifols to successfully commercialize these products, are used
to identify projections and forward-looking statements. These expressions with
respect to Aradigm reflect the assumptions, hypothesis, expectations and
anticipations of the management team of Aradigm at the date of preparation of
this news release, which are subject to a number of factors that could make
the real results differ considerably, such as the uncertainties associated
with clinical trials including lack of effectiveness, lack of statistical
significance of results, adverse side effects or other safety issues,
uncertainties regarding the process of obtaining regulatory approval for the
sale of new drugs, uncertainties concerning the development of demand for new
products, uncertainties regarding the level of reimbursement for new products,
manufacturing and supply issues and the like.
Except for the historical information contained herein, this news release
contains forward-looking statements that involve risk and uncertainties
detailed from time to time in Aradigm's filings with the Securities and
Exchange Commission (SEC), including its Annual Report on Form 10-K for the
year ended December 31, 2013 filed with the SEC on March 13, 2014, and
Aradigm’s Quarterly Reports on Form 10-Q.
Aradigm, Pulmaquin and the Aradigm Logo are registered trademarks of Aradigm
Nancy Pecota, 510-265-8800
Aradigm Chief Financial Officer
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