WAYNE, PA — Palvella Therapeutics, Inc. (Nasdaq: PVLA) transferred its stock listing to the Nasdaq Global Market this month after meeting stricter exchange requirements tied to market capitalization, liquidity, and corporate governance standards.
The company said Nasdaq approved the transfer from the Nasdaq Capital Market last week, with trading on the Nasdaq Global Market beginning May 13 under the existing PVLA ticker symbol.
The move places Palvella on a higher-tier Nasdaq exchange as the clinical-stage biotechnology company advances therapies targeting rare skin diseases and vascular malformations that currently lack FDA-approved treatments.
Nasdaq Global Market listing standards exceed those of the Nasdaq Capital Market and include higher thresholds related to financial metrics, public float, and governance requirements.
Chief Executive Officer Wes Kaupinen described the uplisting as a milestone tied to the company’s broader development efforts.
“As we advance a pipeline of potential first-in-disease therapies, we believe this transition can further elevate Palvella’s visibility,” Kaupinen stated.
Palvella’s lead product candidate, QTORIN 3.9% rapamycin anhydrous gel, is being developed for microcystic lymphatic malformations, cutaneous venous malformations, and angiokeratomas.
The company is also developing QTORIN pitavastatin for disseminated superficial actinic porokeratosis, a rare chronic skin disorder.
Palvella stated that shareholders are not required to take any action in connection with the exchange transfer.
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