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The biotech sector has attracted a significant degree of attention in recent times, and one of the companies that could be worth tracking at this point is PharmAla Biotech Holdings Inc. (OTC:PMBHF) (MDMA.C). The company is involved in the research, manufacturing, and development of MDXX molecules, including MDMA.
It had been established with two main areas of focus: alleviating the worldwide backlog of clinical-grade generic MDMA for qualifying for clinical trials and developing unique drugs in the same category. On September 6, the company announced that it had qualified for listing on the OTCQB Venture Market in the United States. The common shares of the company started trading on the exchange on the same day under the ticker symbol PMBHF.
It was also announced that the common shares of the company would continue to trade under the ticker symbol MDMA on the Canadian Securities Exchange. The Chief Executive Officer of PharmAla Biotech, Nick Kadysh, spoke about the development as well. He stated that the listing had been accomplished following an ‘exceedingly long process’.
He went on to state that the uplisting would help the company in gaining higher trading access and credibility. He stated that it was part of the continued efforts of the company to keep growing.