NEW YORK, Oct. 16, 2012 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced today that trading of KYTHERA Biopharmaceuticals (Nasdaq:KYTH), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel prescription products for the aesthetic medicine market, commenced on The NASDAQ Stock Market on October 11, 2012.
KYTHERA Biopharmaceuticals strives to develop prescription products using an approach that relies on biotechnology to address unmet needs in the rapidly-growing market for aesthetic medicine. KYTHERA's initial focus is on the facial aesthetics market, which comprises the majority of the aesthetic medicine market. Their product, ATX-101, is currently in Phase III clinical development for the reduction of submental fat, which is commonly presented as unwanted fat under the chin.
"KYTHERA Biopharmaceuticals strives to break ground in the growing aesthetics market, with an initial focus on developing a facial injectable drug for the treatment of submental fat, or double chin," said Bob McCooey, Senior Vice President, NASDAQ OMX Corporate Client Group. "We are proud to welcome KYTHERA to the NASDAQ family and look forward to supporting their endeavors as a public company."
"We founded KYTHERA Biopharmaceuticals seven years ago with a vision to create a new kind of biotechnology company using great science, clinical rigor and real innovation to address unmet needs in the rapidly-growing aesthetic medicine market," said Keith Leonard, KYTHERA's President and CEO. "The success of our IPO reflects the hard work, creativity and diligence of our employees, advisors and the physician community. We are delighted to join the ranks of other NASDAQ OMX public companies as we look to build KYTHERA into a leading aesthetics company."
Since its inception, NASDAQ OMX has consistently been the exchange of choice for progressive and cutting-edge health care and biopharmaceutical companies like KYTHERA Biopharmaceuticals. In 2012, NASDAQ has welcomed over 78 percent of the health care companies that have listed on U.S. markets.
-NDAQG-
About NASDAQ OMX:
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 25 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.99% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither The NASDAQ OMX Group, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding NASDAQ-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
About KYTHERA Biopharmaceuticals, Inc.
KYTHERA Biopharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel prescription products for the aesthetic medicine market. KYTHERA's product candidate, ATX-101, is an injectable drug currently in Phase III clinical development for the reduction of submental fat, which commonly presents as a "double chin."