Alvotech lists on Nasdaq stock market

Jun 16, 2022

Alvotech announced that its shares and warrants began trading on the Nasdaq on 16 June under the new ticker symbols ‘ALVO’ and ‘ALVOW’ respectively, following the completion of the company’s business combination with Oaktree Acquisition Corp. II.  The transaction was supported by a PIPE totalling approximately $175M, backed by top-tier investors.

Ordinary shares are also expected to commenced trading on the Nasdaq First North Growth Market in Iceland from 23 June 2022.  Alvotech is expected to be the first dual-listed Icelandic company listed on both a US and Icelandic stock exchange.

Alvotech’s portfolio includes AVT02 (adalimumab/biosimilar to Humira®) which launched in Canada in April 2022 and Europe in June 2022  and is expected to launch in the US from July 2023; AVT04 (ustekinumab/biosimilar to Stelara®) for which Alvotech recently announced positive topline results; aflibercept/biosimilar to Eylea®, denosumab/biosimilar to Prolia®, golimumab/biosimilar to Simponi® and omalizumab/biosimilar to Xolair®.

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