Germantown-based biotech Intrexon Corp. is leaving the New York Stock Exchange for the Nasdaq, it announced Wednesday.
“Following a careful review, we have concluded that our shareholders will be served better by our listing on Nasdaq, with its superior technology, trading liquidity, visibility and opportunities for investor outreach,” Randal Kirk, Intrexon chairman and CEO, said in a release.
Intrexon (NYSE: XON) will retain its XON ticker when it begins trading on the Nasdaq on Sept. 25. Its stock closed Tuesday at $14.56 per share. It has a 52-week high of $20.49.
The move comes nearly a year after Intrexon inked a deal to gain access to up to $100 million of new capital made available through an affiliate company controlled by Kirk. Intrexon has an eclectic lineup of companies in its portfolio, most of which use synthetic biology and gene engineering to create products in the health, food, energy, consumer and environmental industries.
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